It was a positive end to the week on the Australian share market, with the S&P/ASX 200 index closing 0.11% or 6.7 points higher at 6066.1. The broader All Ordinaries index also closed higher, up 0.15% or 9 points at 6148.6.
These 3 ASX real estate shares also closed higher:
Domain Holdings Australia Ltd (ASX: DHG)
The Domain share price is enjoying a huge relief rally on the back of a ‘solid’ set of half-year results, with shares closing 21% higher at $2.53. Domain hit a record low of $2.06 earlier this month as weakness in the key Melbourne and Sydney property markets hurt investor sentiment.
Domain reported flat revenue of $186 million and a net loss after tax of $156.4 million, which included a non-cash goodwill impairment of $178 million.
“In the context of current property market cyclicality, Domain delivered a strong performance in the half, with growth in average revenue per listing,” Domain CEO Jason Pellegrino said.
“Today’s results are testament to Domain’s strong fundamentals and competitive strength as a leading Australian property technology and services business.”
Goodman Group (ASX: GMG)
The Goodman Group share price closed 2.6% higher today at $12.84 as the global industrial property group shows momentum on the back of yesterday’s well-received half-year results.
The group posted an operating profit of $465 million for 1H19, up 10.4% on the previous corresponding period. This strong first-half performance led to management upwardly revising its full-year EPS guidance to 51.1 cents.
Goodman Group is a global industrial property group which owns, develops and manages industrial real estate. The Group aims to invest and develop in quality assets located in major urban centres.
REA Group Limited (ASX: REA)
The REA Group share price lifted 2.66% to $78.02 today. Alongside its rival Domain, REA bounced back after the company’s warned of a negative outlook alongside the release of its half-year results last Friday.
In its interim results, the online advertising company posted 15% revenue growth and a 20% increase in net profit from core operations. These results were achieved in spite of “challenging” market conditions which caused lower volumes of listings and fewer new dwelling announcements.
REA warned that market conditions are not expected to improve in the short term and that revenue growth is expected to be lower in the second half of the fiscal year.
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Motley Fool contributor Cale Kalinowski has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.