Domain Group's net profit tumbled last year as property sales plummeted to their lowest level in two decades, but chief executive Jason Pellegrino says the last few weeks show positive signs for residential real estate.

Domain's underlying net profit fell 29.3 per cent to $37.4 million in the year to June 30, results filed with the ASX on Friday morning show. Earnings before interest, tax, depreciation and amortisation declined 15.3 per cent to $98 million. Revenue fell by 6.1 per cent to $335.6 million.

Domain chief executive Jason Pellegrino sees positive signs ahead for the property market. Credit:Louise Kennerley

On a statutory basis, Domain reported a net loss in the 2019 financial year of $137.6 million after it booked a $178.8 million non-cash goodwill writedown in the December half.

Mr Pellegrino said the company's performance was solid despite an "extraordinary period over the last six to 12 months" which has brought property sales as a proportion of total housing stock to its lowest point in more than 20 years.