10 July 2014: Fairfax Media Limited has revealed that The Domain Group has acquired All Homes Pty Ltd, an online property portal based in Canberra. The acquisition is pending regulatory approval and is estimated to be worth $50 million in total.
Allhomes, the top real estate advertising site in the ACT and surrounding regions in NSW, was established in 2000. With a well-known and trusted digital brand among consumers in Canberra, Allhomes serves over 180 real estate agencies in the ACT. The Domain Group has plans to actively promote both Allhomes and Domain in the region, offering the advantages of a strong local brand and a rapidly expanding national brand to real estate agents, buyers, and sellers.
Greg Hywood, CEO and Managing Director of Fairfax Media, expressed enthusiasm about the acquisition of Allhomes and its significance to Fairfax’s commitment to developing Domain across the nation. Canberra is a crucial market for Fairfax, and Allhomes reinforces its digital position in the ACT.
Allhomes’ CEO, Tim White, will manage the Allhomes and Domain operations in Canberra, and he views the acquisition as a great chance for Allhomes. White stated that both companies’ business objectives and values align and that they will now have access to another highly skilled and motivated team, as well as a national audience for their clients. This, according to White, is advantageous to all concerned, particularly real estate agencies, consumers, and staff.
Antony Catalano, CEO of The Domain Group, emphasized the importance of the acquisition for Domain. He noted that Allhomes has been a strong player in the Canberra market for 14 years and is the go-to destination for all property buyers and sellers in the ACT.
