In a very buoyant report to the City, Purplebricks claims it has sold £2.8 billion worth of property in the year to April 30 with another £1.7 billion sold subject to contract.
Revenues for the fledgling firm have soared 448 per cent in a year.
The agency describes its 77 per cent conversion rate as being above industry norms and possibly “industry leading” - it ended the year with 2,827 instructions in April.
Purplebricks’ website visits grew to 1.23m in April this year, against 0.4m in April last year.
By the end of April it had 205 Local Property Experts with a recruitment programme in hand expected to take the figure to 245 by the start of July.
It also claims 62 per cent of the ‘non traditional’ estate agency market in the UK and boasts of its 5,800 ‘excellent’-status Trustpilot reviews; it has reiterated its prediction it will be in profit within this financial year.
The agency is also launching in Australia, which it describes as a £3.3 billion marketplace. It has already recruited an Australian management team and has set a maximum planned investment of AUS$14m - around £10m - over the next two years.
“In just our second full year of operation we are leading change in an industry that has long been stagnant and is only now waking up to the opportunities and threats posed by technological advance and changing consumer behaviour” says Michael Bruce, chief executive and co-founder of the agency.
“While others are following we have retained our leading position, with 62 per cent of the non-traditional estate agency market and look to replicate this success in Australia” explains Bruce.
Meanwhile chairman Paul Pinder says: “During the year, we evolved from a regional footprint to a full national presence across the UK. Our strategy is focussed upon deepening this coverage across the UK to ensure we have an 'ultra local' presence through the recruitment of more Local Property Experts (LPEs).
“In this regard, I am delighted to report that we are ahead of our recruitment plan, closing our financial year with 205 LPEs, an increase of 159% over the corresponding year. This additional expertise will provide essential capacity to meet the burgeoning demand from our customers. More and more highly skilled estate agents are choosing Purplebricks Group plc because of our strong customer centric culture and full service offering.”