Online marketplace TradeMe is expanding further into the housing market, applying to acquire website homes.co.nz to the Commerce Commission.

TradeMe already owns and operates its own property marketplace, TradeMe Property, where it lists properties for sales and rent. Plus, it provides data on and information on properties through its “property insights” site.

Homes.co.nz serves a similar function, being a platform that houses properties for sale and rent, and which also sells digital advertising space to real estate agents and other advertisers, as does TradeMe.

The Commission said it will allow the acquisition if it can prove it will not lessen competition in the space.

“A lessening of competition is generally the same as an increase in market power, which is the ability to raise prices and reduce the quality of goods and services that would exist if there was a competitive market,” the Commission writes on its website.

“By law, we can only clear a merger if we are satisfied that the merger would not be likely to substantially lessen competition in any New Zealand market.”