Homely announces 24% increase in membership revenue
Homely have announced strong results for FY2024, with highlights including 24% membership revenue growth and its strategic partnership with Gumtree.
Highlights from Homely’s FY2024 investor presentation
- 24% YoY increase in membership revenue
- 43% growth in monthly membership revenue by June 2024
- 12% increase in Vendor Paid Advertising (VPA) revenue in the first half of 2024
- Significant increase in direct and indirect enquiries on listings
- Over 135 million total site and app visits since launch
- Significant increase in Homely Plus Uplift customers onboarded and new agencies listing on Homely.com.au
Homely.com.au, one of Australia’s most visited real estate platforms, has announced its first half-year results for 2024, revealing impressive revenue and engagement growth.
Despite a challenging market, Homely achieved a 24% year-on-year increase in membership revenue, driven by the success of its Homely Plus Uplift Program. Additionally, Vendor Paid Advertising (VPA) revenue rose by 12% compared to the first half of 2023.
The growth in membership revenue was further bolstered by a 43% surge in monthly membership revenue as of June 30, 2024. This success can be attributed to Homely’s expanding customer base, which saw the addition of hundreds of new Homely Plus Uplift customers and new agencies listing properties on the platform during the first half of the year.
Homely also experienced record-breaking engagement on its platform, with a notable increase in direct and indirect enquiries generated on property listings and more than 135 million total site and app visits since the platform’s launch.
Strategic partnerships and expansion
Homely’s strategic partnerships played a crucial role in its continued success. The platform has most recently secured a major partnership with Gumtree, one of Australia’s largest classifieds platforms, boasting over 5 million unique monthly visitors. This collaboration will significantly increase the visibility of property listings on Homely and provide agents with greater audience reach.
In addition to Gumtree, Homely renewed partnerships with key industry players, including PEXA Value Australia, Inspect Real Estate (IRE), and HouGarden, further enhancing its market presence and driving more enquiries to agents’ listings.
“We are excited about the progress made in the first half of the 2024 calendar year,” said Jason Spencer (pictured), Co-Founder and Co-CEO of Homely Group. “Our partnerships, particularly with Gumtree, are a game changer for our platform and will deliver tremendous value to our agents and users.”
The inaugural Homely Awards
Homely is also proud to announce the launch of its first-ever Homely Awards, celebrating excellence within the real estate industry. The awards, which have been extremely well-received within the industry, recognise agents and agencies excelling in categories such as Best Residential Agent, Best Property Manager, and Best Marketing Campaign. The winners were announced earlier this week.
“We are thrilled to introduce the Homely Awards as a way to celebrate the incredible achievements of our agents and offices,” added Spencer.
“We look forward to honouring the best in the industry and continuing to support their success.”
