{"id":23784,"date":"2020-02-20T13:49:39","date_gmt":"2020-02-20T00:49:39","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=23784"},"modified":"2020-02-20T13:49:46","modified_gmt":"2020-02-20T00:49:46","slug":"domain-expects-cyclical-recovery-in-sydney-melbourne-property","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/domain-expects-cyclical-recovery-in-sydney-melbourne-property\/","title":{"rendered":"Domain expects &#8216;cyclical recovery&#8217; in Sydney, Melbourne property"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO:  Domain chief executive Jason Pellegrino <\/strong><\/p>\n\n\n\n<p class=\"has-drop-cap wp-block-paragraph\">Domain chief executive Jason Pellegrino says the online real estate portal is positioned to benefit from a recovery in the property&nbsp;market despite posting a fall in revenue and profit for the financial half year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr Pellegrino last year described the Sydney and Melbourne real estate markets as the toughest since the 1990s but on Thursday Domain said conditions had started to improve. &#8220;There have been early signs of improving property market activity since the Australia Day weekend,&#8221; it said in a release to the ASX.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The real estate listings portal posted a statutory net profit for the six months to December 31 of $22.9 million, compared to a $154.1 million loss in the previous corresponding period. Last year, the loss included a $178.8 million non-cash impairment on goodwill. Excluding significant items, Domain&#8217;s profit fell 38 per cent to $12.9 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Total statutory revenue for the first half of the financial year fell to $157.6 million, caused by a reduction in residential listings and a fall in core digital revenue. Excluding significant items, revenue was $147 million for the half, down by 8 per cent<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">READ MORE VIA <a href=\"https:\/\/www.smh.com.au\/business\/companies\/domain-expects-cyclical-recovery-in-sydney-melbourne-property-20200220-p542ir.html\">SMH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Domain chief executive Jason Pellegrino Domain chief executive Jason<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/domain-expects-cyclical-recovery-in-sydney-melbourne-property\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":23785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098945,478106012,478104925,478101575,478099256,478108827,478100051,478098738,478108828,478108826,478098618,478103893],"class_list":["entry","author-data123nz","post-23784","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-domain","tag-domains-property-price-forecast","tag-jason-pellegrino","tag-melbourne-property","tag-melbourne-real-estate","tag-online-listing-portal","tag-property-markets","tag-real-estate-listings","tag-real-estate-listings-portal","tag-real-estate-site","tag-sydney-property","tag-sydney-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Domain expects &#039;cyclical recovery&#039; 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