-- 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.