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TODAY'S OTHER NEWS

Zoopla says 'return to growth continues' as it adds another 146 agents

Zoopla has added another 146 UK estate agents to its membership since July, taking the total of UK agents now to 12,702.

In a trading update to the City, reflecting business up to the end of September, the full Zoopla Property Group company - which operates uSwitch price comparison website as well as Zoopla and PrimeLocation portals - says its UK agency membership is “continuing its return to growth” after the hiccup of losing members to OnTheMarket. 

The statement says: “The Group added a further 146 net new UK Agency branches since our last member update for July, taking total UK Agency members to 12,702 as at the end of the financial year. The Group had 2,706 new home development members, 737 overseas members and 266 commercial members taking the total number of members at the end of the financial year to 16,411.”

ZPG says it estimates full year 2015 revenue of around £107m, up from £80.2m in 2014. 

The statement continues: “Management is encouraged by the trend of gradual UK Agency membership growth over the past five consecutive months and is confident of delivering ARPA growth based on the demand from its members for additional products and package upgrades.”

ZPG says its Comparison Services division - chiefly uSwitch - has performed ahead of expectations, while the company also says it is developing its financial services offering.

However Ian Springett, OnTheMarket chief executive, says the figures "highlight the success" of OTM. 

"The key fact is that over 90 per cent of our member agents moved both their properties and the associated listing revenue from Zoopla Property Group when they signed up" he adds. 

  • icon

    I wonder what you'll get by way of response from OTM Graham??! Maybe:

    - 'In a short period OTM has become a serious player in the portal market' (read: 'we haven't really got any positive news for you'), or
    - 'Our traffic continues to grow with record traffic of 5.3m visits in September' (read: 'it will take us 20 years to catch up Zoopla at current rate and 50 years to catch up Rightmove'), or
    - 'new members are joining us every week' (read: 'lots are leaving as well but luckily our team of 20 salespeople are signing a couple of newbies every week so we can keep rolling out this line')

    I sense the Sword of Damocles is starting the descent towards Mr Springett's lobster thermidor!

  • Simon Shinerock

    Zoopla shares up 8.32% today, the city has spoken

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