CoStar Group Acquires Domain Holdings Australia to Reshape Property Market

CoStar Group has completed its acquisition of Domain Holdings Australia, combining its global scale and technology leadership with Domain's strong local brand and market expertise. The merger aims to create a more balanced marketplace for agents, vendors, and buyers by reducing costs and improving tools, content, and user experiences. The partnership will accelerate innovation and expand opportunities for customers while reinforcing Domain's trusted position in the market.

CoStar Group, Inc., a leading provider of online real estate marketplaces and technology solutions, has completed its acquisition of Domain Holdings Australia Limited ("Domain"), one of Australia's top property marketplaces [1]. This strategic move combines CoStar Group's global scale, technology leadership, and pro-agent approach with Domain's strong local brand and deep market expertise [2].

The acquisition aims to create a more balanced marketplace for agents, vendors, and buyers by reducing costs and improving tools, content, and user experiences. CoStar Group's CEO, Andy Florance, emphasized that the company is committed to delivering greater value to agents, vendors, and buyers alike, stating, "We are the agent’s ally, and we will never operate at their expense" [1]. By pairing Domain's brand strength and local expertise with CoStar Group's innovation, marketing scale, and investment capacity, the combined entity will be uniquely positioned to drive much-needed competition in the Australian property market [3].

The merger also aims to accelerate innovation and expand opportunities for customers while reinforcing Domain's trusted position in the market. Jason Pellegrino, President of Domain, noted that the partnership will enable Domain to deliver innovative solutions and greater opportunities for customers, while maintaining its trusted place in the Australian property market [1]. Both companies plan to enhance digital tools, customer solutions, and technology integration to set new standards of fairness, competition, and value in Australia's real estate industry [2].

CoStar Group and Domain are committed to further investing in innovation, digital tools, and customer experience enhancements that empower agents and deliver meaningful value to sellers and buyers. With the acquisition complete, CoStar Group will work closely with Domain to ensure a seamless integration and accelerate the rollout of enhanced technology and customer solutions in Australia [1].

The opportunity in Australia is vast, and CoStar Group's commitment is clear: to deliver more, for less, and to be the partner agents and sellers deserve. Together, CoStar Group and Domain will set a new standard for fairness, innovation, and competition in the Australian real estate industry [1].

References:
[1] https://www.costar.com/article/1504398130/costar-group-completes-acquisition-of-australian-real-estate-marketplace-domain
[2] https://www.nasdaq.com/articles/costar-group-completes-acquisition-domain-reshape-australias-property-market
[3] https://finance.yahoo.com/news/costar-group-completes-acquisition-domain-130000835.html