RefreshClassifieds

News.com.au is reporting that classified sites in Australia are posting record profits.  The Seek.com.au employment site reported a $55M net profit and RealEstate.com.au reported a $15M net profit.   Both sites increased profits by over 60% and are bullish about the future of classifieds in Australia.

In Australia it would appear the migration of print classified to online is behind and both sites expect to see profits raise.  A quick look of the free sites in Australia show relatively low traffic, example Craigslist in Sydney showed very few employment or real estate listings.

I think the real challenge for classifieds in Australia will likely come from free competitors.  Craigslist or another free site will surely launch a strong free model that will start to effect the paid classified market.

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Posted by Colin Smillie on Tuesday, August 21st, 2007 at 10:21 am and is filed under Classifieds. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.