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REA Group Residential Buy Yield Growth Does Heavy Lifting in Fiscal Q3 Result, Jefferies Says

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-- REA Group's (ASX:REA) residential buy yield growth did the heavy lifting in a still-subdued environment, driving its fiscal third quarter result, according to a Friday note by Jefferies.

Its residential revenue in Australia was up 12%, driven almost entirely by yield as listings only grew 1% nationally. Buy yield grew 14%.

Commercial and New Homes experienced double-digit growth due to price increases and higher project commencements.

Free cash flow of AU$135 million was broadly flat, which may indicate some "lumpy" capital expenditure in the quarter.

The investment firm has a buy rating on REA with a price target of AU$192 per share.

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