Homely has reported robust results for FY2024, showcasing a 24% growth in membership earnings and a strategic alliance with Gumtree.
As one of the most frequented real estate platforms in Australia, Homely’s results for the first half of 2024 demonstrated notable growth in both revenue and user engagement. In a tough market, the company recorded a 24% year-over-year rise in membership revenue, primarily fueled by the success of its Homely Plus Uplift Program. Moreover, VPA revenue increased by 12% compared to the same timeframe in 2023.
Homely’s June membership revenue climbed 43% thanks to a wave of new Homely Plus Uplift customers and agencies listing properties. This growth was accompanied by a significant increase in property inquiries and over 135 million total site and app visits since launch.
Strategic partnerships have been essential to Homely’s ongoing success. The company recently formed a significant alliance with Gumtree, one of Australia’s largest classifieds platforms, attracting over 5 million unique monthly visitors. This partnership is anticipated to greatly increase the visibility of property listings on Homely and expand the audience reach for agents.
Additionally, Homely has renewed collaborations with important industry players, such as PEXA Value Australia, Inspect Real Estate (IRE), and HouGarden, which further solidifies its market position and generates more inquiries for agents’ listings.
Jason Spencer, Co-Founder and Co-CEO of Homely Group, expressed enthusiasm about the progress made in the first half of the 2024 calendar year, highlighting that the partnerships, especially with Gumtree, are transformative for the platform and will bring substantial value to both agents and users.
