Hemnet Group AB (HEM) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

inflation and the easing of mortgage regulations planned for April 26 could gradually help increase activity. Listing duration, the average time it took for a property to sell on Hemnet during the last 12 months, increased by 18% to 52 days compared to 44 days in Q3 last year. Anders will break down the financial effect of the longer listing duration later on in the presentation. Around 4 percentage points of the volume decline was attributed to a new business rule introduced by 1 February 2025. This new business rule allows sellers to change agents without buying a new listing. It's important to remember that our published listing number follows a specific definition and differs from general market numbers. The negative listing development is challenging, but it's more important to remember that property market can be volatile and we've been through the similar development in the past years. Just look at 2023. Let's move on to the next slide and provide some additional color on the supply situation and how that impacts the current state of the market. We do get a lot of questions of the state of the property market and how new published listings relate to transactions and total supply. Therefore, I wanted to take this opportunity to provide some color on what we are seeing and visualize it in a few graphs to eliminate some misunderstandings. We continue to see a high supply on Hemnet, but the growth rate has started to come down during the past few months. In September in 2025, our supply grew by 2% year on year compared to 22% the same month last year. With that said, we're still at aggregated supply levels on the platform that is 50% higher compared to three years ago. The supply on Hemnet and how it moves is a function of a number of different factors. The supply...