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20 Biggest Real Estate and Property Companies in Australia, 2024

In this article, we will be covering the biggest real estate and property companies in Australia in 2024. If you wish to skip our detailed analysis, you can move directly to the 5 Biggest Real Estate and Property Companies in Australia, 2024.

Australian Real Estate: Interest Rates and Market Activity

The national median home value in Australia was reported to be at a record high of $774,000 in April. This price has increased by 6.6% since 2023. Due to soaring interest rates, the purchasing power of Australians has been cut by almost 35% to 40%. Due to stubbornly persisting inflation, no interest cuts have been expected for 2024 although two cuts had been forecasted early this year.

Although home buyers in Australia continue to be concerned about high interest rates, a fear of missing out prevails among buyers who have been pushed out of the market for long. More certainty related to the interest rates will determine how the buyers who await potential rate reductions will return to the market. On May 8, realestate.com.au reported that the Australian property price growth might slow down since the Reserve Bank held the cash rate at its 12-year high of 4.35%. Amidst stronger-than-expected inflation in March, the optimism regarding an early interest rate cut has diminished. Since further rate hikes can also be undertaken due to inflation, slower price growth has been predicted through the winter months.

Although the number of homes going up for sale typically declines following Easter, 2024 has been different as scheduled auctions have gone up as compared to 2023. During the week from May 6 to May 12, 2,548 homes were scheduled for auction across the country which depicts a 43% increase from 1 year ago. Victoria records 1,158 homes for auction, up 55% year-over-year. New South Wales follows with 906 scheduled auctions, up 38% from a year ago.

Regardless of the high listings in Victoria and New South Wales, the same housing volumes have not been witnessed in South Australia and Western Australia which has driven high prices. Simultaneously, house prices have climbed 20% in Perth and 14% in Adelaide year-over-year while the housing stock remains low. Therefore, the Australian real estate market currently faces issues related to housing affordability and shortage while the interest rate scenario is not completely certain. You can also take a look at the fastest-growing real estate markets in the world.

2024 Plans for the Real Estate Sector

With a target of building 1.2 million new homes in the five years from July 2024, the Australian government seems optimistic about tackling the housing shortage in Australia. In the upcoming 2024 federal budget, the federal government plans to invest more than $11 billion into housing across the country. The spending comprises $1 billion for crisis accommodation for those escaping domestic violence and another $1 billion for infrastructure which will support the new housing. The federal, state, and territory governments have also agreed to invest $9.3 billion over a duration of five years for building and repairing social housing. To address the issue regarding the shortage of skilled labor in the housing sector, $90.6 million of new spending in the budget will be dedicated.

Key Players in the Sector

Companies such as Goodman Group (ASX:GMG), Vicinity Centres (ASX:VCX), and Stockland (ASX:SGP) dominate the Australian real estate and property market. Let’s take a look at what these firms have been up to. Some of the best real estate and realty stocks to buy according to analysts have also been previously discussed.

Goodman Group (ASX:GMG) serves as the largest Australian developer of industrial property located within easy access to large consumer markets in Sydney, Melbourne, and Brisbane. In April, the company continued investment in Western Sydney by breaking ground on a new Amazon fulfillment center at Oakdale East Industrial Estate, Horsley Park. In this regard, Goodman Group (ASX:GMG) has invested more than $500 million in local infrastructure and almost $7 billion in property. This development will enable Amazon to serve and fulfill the consumer needs in the Western Sydney area. Practical completion is expected in July 2025.

Vicinity Centres (ASX:VCX) is one of the major leading retail property groups in Australia. On April 18, the company reported that its largest national marketing campaign  Monopoly Shop Scan Win is returning to 47 centers across Australia. The campaign was planned to kick off on April 18 and anticipated a better response with a prize pool as big as over $4 million. Vicinity Centres (ASX:VCX) is carrying out this campaign in partnership with HASBRO for the third year after introducing it first in 2022 to help retailers recover from the pandemic by doubling the frequency of customer visits.

Stockland (ASX:SGP) is a major residential developer in Australia. On April 24, the company reported the launch of a new residential precinct in its Forest Reach masterplanned community.  The new precinct will offer views of the Illawarra escarpment and will help cater to the housing demand in the region. It will boast flat and ready-to-build split-level lots for first-home buyers, families, and upgraders. A 25,000 square meters park with a junior-sized football field and full-sized basketball court has also been planned for the Forest Reach community.

You can also take a look at some of the biggest real estate companies in the world. Without further ado, let’s move to the 20 biggest real estate and property companies in Australia in 2024.

Our Methodology:

In order to compile a list of the 20 biggest real estate and property companies in Australia in 2024, we utilized industry reports as well as stock screeners. Initially, we used the Yahoo Finance screener and Finviz to shortlist the largest public real estate companies in Australia. Market capitalization was used to rank these companies and was sourced from Yahoo Finance, as of May 10. We further expanded our research to incorporate private real estate companies operating in the country by reviewing multiple rankings and industry reports. We looked at the estimated valuation from major media reports based on the company’s latest funding round, the annual revenue from the latest fiscal year, or the number of company employees as a metric to gauge the valuation of private companies. Subject to the availability of data, one of the above metrics has been used to analyze private companies. Finally, we ranked the 20 biggest real estate and property companies in Australia in 2024 in ascending order of their market capitalizations or the aforementioned alternative metrics for private companies.

20 Biggest Real Estate and Property Companies in Australia, 2024

20. Growthpoint Properties Australia (ASX:GOZ)

Market Capitalization: $1.18 Billion

Growthpoint Properties Australia (ASX:GOZ) is an internally managed real estate investment trust that invests in industrial and office properties across Australia. The firm claims to own and manage 57 high-quality, modern office and industrial properties which are valued at almost $4.6 billion. As of May 10, Growthpoint Properties Australia (ASX:GOZ) is worth $1.18 billion on the open market and ranks as one of the biggest real estate and property companies in Australia in 2024.

19. Charter Hall Retail REIT (ASX:CQR)

Market Capitalization: $1.28 Billion

Charter Hall Retail REIT (ASX:CQR) serves as a leading Australian owner of property for convenience retailers. The company has a 4,237 million portfolio of convenience retail shopping centers and long WALE convenience assets across Australia and New Zealand. Charter Hall Retail REIT (ASX:CQR) is managed by Charter Hall Group (ASX:CHC). The firm has a market capitalization of $1.28 billion, as of May 10.

18. Ingenia Communities Group (ASX:INA)

Market Capitalization: $1.3 Billion

The Australian property group Ingenia Communities Group (ASX:INA) owns, operates, and develops a portfolio of lifestyle and holiday communities. The firm offers affordable accommodation and services focusing mainly on the senior population in Australia. Ingenia Communities Group (ASX:INA) has a current market valuation of $1.3 billion and ranks on our list of the largest real estate and property companies in Australia in 2024.

17. Centuria Industrial REIT (ASX:CIP)

Market Capitalization: $1.35 Billion

Centuria Industrial REIT (ASX:CIP) serves as the largest domestic pure-play industrial property investment vehicle in Australia. The company has a portfolio of 88 high-quality, fit-for-purpose industrial assets. Centuria Industrial REIT (ASX:CIP) currently ranks among the biggest Australian real estate and property companies and has a market capitalization of $1.35 billion, as of May 10.

16. HMC Capital Limited (ASX:HMC)

Market Capitalization: $1.61 Billion

HMC Capital Limited (ASX:HMC) ranks as one of the largest real estate and property companies in Australia in 2024. The company owns and manages real estate-focused funds in Australia. It invests in high conviction and scalable real asset strategies for individuals, large institutions, and super funds. As of May 10, HMC Capital Limited (ASX:HMC) is valued at $1.61 billion.

15. Region Group (ASX:RGN)

Market Capitalization: $1.67 Billion

Region Group (ASX:RGN) is another Australian real estate investment trust. As of December, the firm owns and manages 93 convenience-based retail properties other than managing 8 properties on behalf of the Metro Fund. Region Group (ASX:RGN) has a current market capitalization of $1.67 Billion and ranks 15th on our list of the biggest real estate and property companies in Australia.

14. Charter Hall Long WALE REIT (ASX:CLW)

Market Capitalization: $1.68 Billion

Charter Hall Long WALE REIT (ASX:CLW) is an Australian real estate investment trust which is currently worth $1.68 billion. The company manages 1,641 properties across the office, industrial & logistics, and retail sectors. Charter Hall Long WALE REIT (ASX:CLW) is managed by one of the leading fully integrated Australian property groups, Charter Hall Group.

13. BWP Trust (ASX:BWP)

Market Capitalization: $1.69 Billion

The 20 biggest real estate and property companies in Australia include BWP Trust (ASX:BWP) as well. The firm invests in and manages commercial properties throughout Australia. BWP Trust (ASX:BWP) serves as the largest owner of Bunnings Warehouse sites in the country. As of May 10, this real estate investment trust is valued at $1.69 billion.

12. PEXA Group Limited (ASX:PXA)

Market Capitalization: $1.71 Billion

PEXA Group Limited (ASX:PXA) is a digital property settlement platform in Australia. The company is currently worth $1.71 billion. PEXA Group Limited (ASX:PXA) has enabled more than 20,000 families weekly to have a fast, safe, and efficient property settlement through PEXA Exchange. Therefore, the firm has played a major role in transforming the way people exchange property in Australia.

11. HomeCo Daily Needs REIT (ASX:HDN)

Market Capitalization: $1.72 Billion

HomeCo Daily Needs REIT (ASX:HDN) ranks among the biggest real estate and property companies in Australia in 2024. The company has a market capitalization of $1.72 billion, as of May 10. HomeCo Daily Needs REIT (ASX:HDN) invests in convenience-based assets in the sub-sectors of neighborhood retail, large format retail, and health and services.

10. National Storage REIT (ASX:NSR)

Market Capitalization: $1.9 Billion

National Storage REIT (ASX:NSR) is one of the largest self-storage providers in Australia. The company serves more than 90,000 residential and commercial customers at storage centers across Australia and New Zealand. As of May 10, National Storage REIT (ASX:NSR) is worth $1.9 billion on the open market and ranks 10th on our list.

9. Lendlease Group (ASX:LLC)

Market Capitalization: $2.9 Billion

Lendlease Group (ASX:LLC) is an integrated real estate group based in Australia. The company engages in the development of suburban master planned communities, retirement living villages as well as mixed-use precincts. It has been successful in delivering recognized real estate such as Sydney’s Opera House, Kuala Lumpur’s Petronas Towers, and Tate Britain in London.  As of May 10, Lendlease Group (ASX:LLC) has a market capitalization of $2.9 billion.

8. Charter Hall Group (ASX:CHC)

Market Capitalization: $3.8 Billion

As of May 10, Charter Hall Group (ASX:CHC) is worth $3.8 billion and ranks as one of the biggest real estate and property companies in Australia in 2024. The company is one of the major Australian fully integrated property investment and funds management groups. Charter Hall Group’s (ASX:CHC) core sectors for investments include industrial and logistics, office, retail, and social infrastructure.

7. Dexus (ASX:DXS)

Market Capitalization: $5.1 Billion

Dexus (ASX:DXS) is a fully integrated Australian real asset group. The company has a current market capitalization of $5.1 billion. The firm owns $15.8 billion of office, industrial, healthcare, retail, and infrastructure assets and investments. Dexus Industria REIT™ is a real estate investment trust managed by Dexus (ASX:DXS).

6. The GPT Group (ASX:GPT)

Market Capitalization: $5.4 Billion

The GPT Group (ASX:GPT) is one of the largest property groups in Australia that manages more than $30 billion worth of assets across the nation. The company has a portfolio of retail, office, and logistics assets. The GPT Group (ASX:GPT) is worth $5.4 billion, as of May 10.

Click to continue reading and see 5 Biggest Real Estate and Property Companies in Australia, 2024.

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Disclosure: None. 20 Biggest Real Estate and Property Companies in Australia, 2024 is originally published on Insider Monkey.

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