News & Analysis

News Corp’s REA Group and Move Inc partner to launch global property network

- July 29, 2016 2 MIN READ

If getting disheartened about the price of properties on, say, Sydney Harbour isn’t enough for you, News Corp has today announced the launch of a new global property network through a partnership between REA Group, operator of realestate.com.au, and Move, Inc, giving users easy access to listings from around the world.

The partnership between REA Group, majority owned by News, and Move, of which REA Group owns 20 percent and News 80 percent after a 2014 acquisition, will bring together REA Group’s global portals and Move’s US-based platform realtor.com, giving consumers access to over three million property listings across 56 countries at launch.

Partner sites will also continue to be added to the network over the coming months, including News Corp’s Mansion Global and Indian platform PropTiger.

News Corp chief executive Robert Thomson said that the network will give consumers access to more global properties than any other source, creating a “whole new world of property for consumers”, as well as “premium audiences on a global scale” for advertisers, with the network expected to reach over 200 million visits globally each month.

“The global property network being launched today demonstrates the power of combining data across the News Corp digital real estate portfolio, and provides further evidence that News Corp is the largest digital property business in the world,” he said.

“By combining the listings – and the talent – of REA Group, realtor.com, and other partner sites, we are creating an opportunity to enhance listings for consumers and customers around the world, while enabling collaboration with News Corp’s existing stable of real estate businesses and partners, including Mansion Global and PropTiger.”

Tracey Fellows, CEO of REA Group, added, “People love looking at property and now they can have easier access to international listings, whether they are interested in a beach house in Jamaica, a warehouse in Brooklyn, a villa in Thailand or even a castle in the French countryside. We’re providing consumers with a way to explore property around the world from the sites they already know and trust.”

With the news business a difficult one, the focus from News Corp on the lucrative real estate sector is easy to understand, and most importantly, it is pursuing new spaces and innovations within the sector: the last few months have seen REA Group acquire Flatmates.com.au for $25 million in a bid to expand into the sharing economy, while realestate.com.au also this year partnered with 3D tour provider Scann3d to create walk through tours for off the plan properties.

News Corp Australia has also invested in Plattar, a Melbourne-based startup that allows users to create and distribute augmented reality content. The investment was the first by News Corp Australia in a seed funding round, with the company stating that a collaboration between News and Plattar on a partnership with REA Group and Ray White in February confirmed the potential of the platform.

Image: Tracey Fellows. Source: heraldsun.com.au