Jason Orthman, Portfolio Manager at Hyperion says they are still championing REA Group as a key growth story in their portfolio

Jason Orthman, Portfolio Manager at Hyperion says they are still championing REA Group as a key growth story in their portfolio. We think the value proposition is still compelling. It costs about $170 to list your property on REA, and we think there's plenty of upside. Depth penetration is only at 20% of the user-base (depth is where you highlight your listings at the top of the page or opt for a bigger size). So with commissions at $10,000+ per property and thousands of dollars spent on marketing we think that $170 per listing will drift up and we expect EPS growth of 25% p.a. over the next 5 years. Of course, assuming there's no better mousetrap - and... (we) can't see something disrupting REA in the short to medium term. (source: Hyperion webcast)