News Corp, led by chairman Rupert Murduch, bid A$121m (£52m) in early August as it looked to snap up a string of web businesses internationally. The new offer represents a 3% premium on realestate.com.au's closing share price of A$2.43 on Tuesday.
"We are instructed that this is News Limited's final offer and it will not be increased again," Allens Arthur Robinson, News Corp's legal adviser, said in a statement to the Australian Stock Exchange.
News Corp already owns 43.7% of realestate.com.au, which offers a range of services to the real estate industry including classified ads, and its £64m bid is to acquire the outstanding 56.3% of the company.
News Corp has made a number of major internet acquisitions this year as News Corp makes the internet its number one target for expansion, after Murdoch told newspaper editors earlier this year that he thought the news media had not moved fast enough towards digital activities.
In September, News Corp bought videogame and movie website company IGN Entertainment, which owns GameSpy and Rotten Tomatoes, for $650m and MySpace.com for $580m.
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