0119 GMT - REA Group loses more bulls on worries about a likely slowdown in Australia's property market. UBS analysts Lucy Huang and Ailsa Lei are the latest to downgrade a buy rating on the News Corp-controlled property advertiser to neutral on expectation of a cumulative 10% listings volume decline across the next two fiscal years. However, a near-term volume boost may come from investors seeking to offload assets before tax concessions change on July 1, 2027, they say. The tax changes could benefit REA over the longer term if they drive a skew toward owner-occupiers, who tend to transact more frequently, they say. UBS cuts its target price by 23% to 165.00 Australian dollars. Shares are down 2.6% at A$148.67. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 09, 2026 21:19 ET (01:19 GMT)
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