REA hasn’t moved since our purchase in mid-September however we still believe the outlook is solid for the business, especially after it managed to push through a national price rise of 6% providing support during a challenging period for Australian property. Similarly, the owners of investment properties have largely pushed on the pressures of rate hikes through the much-publicised lifts in rents but this feels like it may have reached an “uncle point” and will require careful observation for both property prices and by definition for REA.
- We remain bullish on REA looking for a “pop” towards $140, but it’s asleep at the moment!
MM is long and cautiously bullish on REA short term
Add To Hit List
