CoStar Group Completes Domain Acquisition, Challenging Australia's Property Market

CoStar Group, a leading provider of online real estate marketplaces and analytics technology, announced the successful completion of its acquisition of Domain Holdings Australia Limited, one of Australia’s leading property marketplaces. The transformative acquisition combines CoStar Group’s global scale, technology leadership, and pro-agent approach with Domain’s deep expertise and portfolio of trusted Australian property brands.

The acquisition addresses what CoStar identifies as an unbalanced Australian property market dominated by legacy models focused on value extraction rather than delivery. “For too long, agents, buyers and vendors have faced an unbalanced marketplace dominated by an intention to extract value rather than deliver it. Our vision is different. We are building a more compelling user experience at a lower cost – driving greater value for agents, vendors, and buyers alike. We are the agent’s ally, and we will never operate at their expense,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group.

Domain represents a significant market presence, reaching an average of 7 million Australians each month and standing as one of the country’s most recognized and trusted property platforms. The combination of Domain’s brand strength and local expertise with CoStar Group’s innovation, marketing scale, and investment capacity positions the platform to drive increased competition in the Australian property market.

CoStar plans to apply its proven transformation strategy from the United States market to Australia. “We dismantled market dominance in the U.S. by transforming Homes.com into a true agent-friendly platform, and we are ready to apply that same proven playbook in Australia,” Florance continued. “Agents and vendors are being squeezed by legacy models that raise prices without raising value. That ends here.”

Jason Pellegrino, President of Domain, emphasized the strategic value of the transaction for customers and market positioning. “This transaction reinforces the strong fundamentals of Domain and represents compelling value for customers. With CoStar Group, we believe Domain will accelerate its ability to deliver innovative solutions and greater opportunities for customers, while maintaining its trusted place in the Australian property market,” he said.

The acquisition enables both companies to commit to further investment in innovation, digital tools, and customer experience enhancements designed to empower agents and deliver meaningful value to sellers and buyers. With the deal complete, CoStar Group will work closely with Domain to ensure seamless integration and accelerated rollout of enhanced technology and customer solutions across Australia.

CoStar Group’s entry into the Australian market through the Domain acquisition represents a significant challenge to existing market dynamics, with the company positioning itself as a partner that agents and sellers deserve. The combined entity aims to set new standards for fairness, innovation, and competition in the Australian real estate industry while leveraging CoStar Group’s broader portfolio of brands that attracted over 141 million average monthly unique visitors globally in the second quarter of 2025.

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