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In handing down its financial year 2022 results, the online real estate marketplace’s co-founder still says people underestimate the brand.
Having revealed revenue growth of 58 per cent over the financial year, Homely is also reporting 49 per cent revenue growth for the first half of 2022.
Co-founder and co-chief executive Jason Spencer said the growth comes “despite the evolving market and economic volatility through the first half of 2022”.
The group has also touted “significant growth” in its digital metrics across website visits, app downloads and listing volumes.
Over the 12-month period, it’s also reporting a 33.3 per cent increase in direct inquiries and a 326.3 per cent lift in indirect inquiries on property listings, as well as a 79.7 per cent increase in engaged users across all platforms in the first half of 2022.
Mr Spencer said people “continue to underestimate just how big Homely has grown in the past few years”.
“There aren’t too many companies that are growing at the rate we are, especially during these uncertain economic times. It’s been a very exciting year for us,” he continued.
With a 655-strong partner base — spanning principals, agents, and franchises across the country — Homely is now touting itself as “the largest industry-backed portal in Australia”.
According to the group, its core digital advertising revenue continues to increase while the company increases market share through Homely Plus memberships.
Looking ahead, co-founder and co-CEO Adam Spencer said the business would “continue to increase our investment in the products, people and partnerships that deliver a legitimate VPA alternative to the incumbents’ and provide a compelling alternative for both real estate agents and consumers”.
“We are laser-focused on delivering value through the wider rollout of our flagship digital advertising product Homely Plus, boosting listings and growing our membership base,” he touted.
Pointing to their investments being made across engineering, digital marketing and search engine optimisation as enabling Homely’s exponential growth, Adam Spencer said their goal over the next 12 months is “to drive more views and engagement to our agent partner listings than ever before”.
Indicating the brand’s vision is to “redefine the way people find a home” — combining real estate listings with unique local content, he stated that “this vision has never been clearer”.
“The opportunity for seismic industry change is significant, and we believe we are well-positioned to make change happen,” he said.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
