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The owner of realestate.com.au has rebranded its valuations business and launched new customisable products.
REA Group has announced that it has rebranded its residential property data analytics and automated valuations business, Hometrack, to PropTrack.
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The data business provides market intelligence by combining property data, valuation technologies and behavioural data created in real time by visitors to realestate.com.au.
The group also announced that along with the business rebranding, it is simultaneously launching a new application programming interface (API) and customisable widgets to provide customers with access to property market data and insights.
Commenting on the developments, PropTrack CEO Brendan Darcy said the rebrand would “more accurately reflect the breadth of expertise that the business will provide moving forward”.
“The launch of PropTrack coincides with bringing to life many expanded opportunities for our customers,” Mr Darcy said.
“Our new APIs will provide… access to property prices, market activity and historical transactions. We will continue to evolve this offering to integrate realestate.com.au’s unique property intelligence, incorporating demand and listings data.”
REA Group chief audience and marketing officer Melina Cruickshank said: “This is an exciting step forward in PropTrack’s evolution.
“PropTrack underpins REA Group’s growth strategy to provide the richest content, data and insights to our customers, enabling decisions to be made on the most up-to-date, relevant and comprehensive real estate data available.”
REA Group entered into an agreement to acquire 100 per cent of Hometrack Australia in 2018 for $130 million to enhance its property data analytics capability.
[Related: Brokers, settlements boost REA Group finserv wing]
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