CoStar Group, Inc., a leading provider of online real estate marketplaces, information, analytics and 3D digital twin technology, has completed its acquisition of Domain Holdings Australia Limited, one of the nation’s major property marketplaces.
The company said the acquisition will bring together CoStar’s global scale, technology leadership and pro-agent approach with Domain’s trusted local expertise and strong portfolio of property brands.
“Today marks an important milestone as CoStar Group and Domain officially come together to redefine the Australian property market,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group.
“For too long, agents, buyers and vendors have faced an unbalanced marketplace dominated by an intention to extract value rather than deliver it.
“Our vision is different. We are building a more compelling user experience at a lower cost – driving greater value for agents, vendors, and buyers alike. We are the agent’s ally, and we will never operate at their expense.”
Domain reaches an average of 7 million Australians each month¹, making it one of the country’s most recognised property platforms.
By pairing that brand strength with CoStar’s innovation, marketing scale and investment capacity, the company said Domain will be positioned to drive fresh competition in the sector.
“Agents and vendors are being squeezed by legacy models that raise prices without raising value,” Mr Florance said.
“That ends here. CoStar Group’s entry into Australia is about creating a sustainable, pro-agent, pro-buyer and pro-vendor marketplace – one that invests in better content, better tools, more traffic, and a superior user experience, while lowering costs.
“We dismantled market dominance in the U.S. by transforming Homes.com into a true agent-friendly platform, and we are ready to apply that same proven playbook in Australia.”
Domain President Jason Pellegrino said the transaction strengthens Domain’s fundamentals while creating new opportunities for growth.
“This transaction reinforces the strong fundamentals of Domain and represents compelling value for customers. With CoStar Group, we believe Domain will accelerate its ability to deliver innovative solutions and greater opportunities for customers, while maintaining its trusted place in the Australian property market,” Mr Pellegrino said.
The companies said they are committed to further investment in innovation, digital tools and customer experience enhancements to empower agents and deliver meaningful value to both sellers and buyers.
“The opportunity in Australia is vast, and our commitment is clear: to deliver more, for less, and to be the partner agents and sellers deserve,” Mr Florance concluded.
“Together, CoStar Group and Domain will set a new standard for fairness, innovation, and competition in the Australian real estate industry.”
¹ Source: Ipsos iris Online Audience Measurement Service 12 month average (Jan 2024 – Dec 2024), Age 14+, PC/laptop/smartphone/tablet, Text only, Domain Group (includes Domain.com.au + Allhomes.com.au + commercialrealestate.com.au) (000’s).
