3 ASX 200 shares down over 30% that I’d buy

Everyone loves a bargain and there could be a number of ASX 200 shares offering just that right now after heavy share price falls.

In this article are three ASX 200 shares I’d buy that have fallen by more than 30% over the past year.

REA Group Ltd (ASX: REA)

REA shares are down around 33% over the past 12 months.

This ASX 200 share owns realestate.com.au, which attracts an enormous audience of buyers, sellers, renters, and property watchers. That attention gives REA a major advantage because agents and developers want their listings placed where Australians are already looking.

The more people who use the platform, the more important it becomes to advertisers. That helps REA protect its market position, charge more for premium products, and keep investing in a better experience for users.

I also think the opportunity extends beyond property listings. REA can use its audience, data, and relationships to grow areas such as seller leads, property insights, financial services, and tools for agents.

Housing activity can slow when interest rates remain high or confidence weakens, which may weigh on listing volumes and near-term earnings. However, those conditions do not remove the competitive advantage created by REA’s scale.

After the share price decline, I think investors are being offered a more attractive entry point into one of the strongest online businesses on the ASX.

Life360 Inc (ASX: 360)

Life360 shares have dropped around 31% since this time last year.

The tech company has built a digital platform that helps families stay connected and respond when something goes wrong. Users can check whether a child has arrived at school, receive driving alerts, find a lost item, or keep an eye on an elderly relative.

Those frequent interactions can make Life360 part of a household’s normal routine, which helps explain the scale the platform has reached.

Life360 finished the first quarter of 2026 with 97.8 million monthly active users and 3 million paying Circles. Advertising revenue also climbed to US$19.7 million during the quarter.

That large audience gives the company several ways to keep growing. Life360 can attract more users, convert more families into paying subscribers, sell connected devices, introduce additional safety services, and earn more advertising revenue.

Given its strong growth potential and the share price decline, I think an attractive buying opportunity has opened up.

DroneShield Ltd (ASX: DRO)

DroneShield shares are down approximately 38% over the past year and I think that has created a buying opportunity.

The company develops counter-drone technology that helps defence forces, governments, and security operators detect, track, and respond to unwanted drones.

Hardware remains its biggest revenue generator, with DroneShield supplying portable and fixed systems designed to protect military sites, airports, prisons, critical infrastructure, and public events.

I think demand could keep growing as drones become cheaper, more capable, and more widely used.

DroneShield also has a major opportunity to grow its software revenue. Counter-drone systems need to keep pace with new drone models, signals, and tactics, creating demand for updates, threat libraries, support, and ongoing improvements.

That could extend customer relationships beyond the original hardware sale and gradually make more of its revenue recurring.

Foolish takeaway

Falls of more than 30% show that the market has already lowered its expectations for these companies.

I think each business still has clear ways to become larger and more valuable, supported by customer relationships and capabilities that have taken time to develop.

Further volatility is possible, particularly with Life360 and DroneShield. But at sensible position sizes and with a long holding period, I would use the recent weakness to buy all three ASX 200 shares.

The post 3 ASX 200 shares down over 30% that I’d buy appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has positions in DroneShield. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield and Life360. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.