Author: James Graham, Senior Lecturer in Economics, University of Sydney

Australia has long been one of the most expensive places in the world to buy a house. Now, it’s apparently also one of the costliest places to sell one. Recent reporting in the Guardian has raised concerns about the market dominance of Australia’s two main real estate advertising websites, realestate.com.au and Domain. Facing little competition, the largest – realestate.com.au – appears to have significantly increased its fees in recent years, while thwarting disruptive innovations from smaller competitors. Why does that matter? Because when it comes to selling a house, Australia stands out globally. In most other countries, any advertising costs…