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REA Group shares dropped 9% as it warned of a 1%-3% annual decline in property listings, driven by steep drops in January and in major cities.
Shares in REA Group, owner of Realestate.com.au, fell 9% to $166.03 as the company warned national property buy listings could drop 1% to 3% for the year, following a 6% decline in the first half and an 8% drop in January.
Melbourne and Sydney saw 1% decreases, while Perth and Brisbane had steeper declines.
Despite the trend, new CEO Cameron McIntyre said the market remains healthy, citing strong employment and population growth.
The share price hit its lowest since late 2023, reflecting investor concern over shrinking home availability.
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Las acciones del Grupo REA cayeron un 9%, ya que advirtió de una caída anual del 1% al 3% en las listas de propiedades, impulsadas por fuertes caídas en enero y en las principales ciudades.