India is the long term prize, but in the meantime they are adept at pulling various levers to keep the core Aussie business growing. Pricing, premiumisation, adjacent products and bolt on purchases.
Negatives for the short term are really what happens in the second half when the backlog of listings is cleared. The reality of a significant downturn will be dawning on vendors and I'd suspect unless you had to, not many will be going to market in a few months time. Property prices in syd are on track for 15% declines by Christmas. Having said that, that will be a buying opportunity because the eventual rate cuts will put a floor under the market and activity next year.
REA Price at posting:
$129.61 Sentiment: None Disclosure: Held
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