News Corp’s majority-owned REA Group really, really wants to own its opposite number in the UK, Rightmove, and a former chief executive has pointed to what may be the reason why.

In Guardian Australia, consultant Simon Baker – who led REA Group’s realestate.co.au from 2001 to 2008 – says Australia’s “vendor-paid” advertising market – in which sellers pay the cost of advertising their house on the portal – is rare globally.

It quotes Baker that advertising costs had “increased substantially” since the website was first established, and says from $50 per listing in those early days, it had risen to “almost $4000” for an inner-city listing in Sydney and Melbourne.

A Guardian video says realestate.com.au now has an effective monopoly in Australia, where its only significant competitor is Nine-controlled Domain. It’s also likely to be the reason why Antony Catalano’s View Media is working hard to build a share of the business. Catalano had been chief executive of Domain from 2013-2018.

News Corp owns 61 per cent of REA Group.

REA Group is reported to have prepared a third bid for Rightmove. A second offer – turned down last week – had valued Rightmove at about A$11.5 billion after its first foray had been knocked back as “wholly opportunistic”.

Rightmove’s share have risen by more than 20 per cent since the initial approach in early September. The latest “further improved proposal” values Rightmove at about GBP£6.1 billion (A$

Current chief executive of REA Group Owen Wilson says combining its expertise and technology with Rightmove’s business will create “an enhanced experience for agents, buyers and sellers of property”.