DHG - Stock Update
Latest CoreLogic data shows capital city new property listings up double digits in the last 4 weeks and till tracking up double digits in 3QFY22 to date.
Market conditions remain buoyant and as mentioned in the previous Stock insight, DHG’s share price has returned to pre-covid levels despite the earnings base being 50% higher. These conditions support our investment thesis of a Buy rating for DHG.
Company overview
Domain Holdings is an Australian property marketplace which also hosts a portfolio of companies related to Australian residential property.
The momentum in Australia’s residential property market has allowed Domain to overcome impacts from Covid-19 restrictions, this supports our Buy recommendation for DHG. Our investment thesis remains that Domain is a better company currently than pre-Covid and is likely to continue to benefit moving forward as Covid-19 restriction continue to ease, subject to broader risks.
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