REA Group expects limited supply has stabilised property prices and more venders will come to the market as a result. Ord Minnett only agrees with the latter suggestion, believing increased supply will lead to further falls in property prices.

The broker does expect new listings will increase in FY24 as a backlog of deferred listings from FY23 unwinds and distressed sellers come to the market, yet believes the company's plans to keep increasing its listing fees by double digits against the current backdrop is risky.

The Lighten rating and $100 target are unchanged.

Sector: Media.

Target price is $100.00.Current Price is $139.05. Difference: ($39.05) - (brackets indicate current price is over target). If REA meets the Ord Minnett target it will return approximately -39% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena