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TODAY'S OTHER NEWS

Online agency claims new investment allows it "to challenge Purplebricks"

Online agency HouseSimple Award claims a new £13m investment package will allow it to “challenge PurpleBricks as the UK’s leading online estate agency.”

The funding round has been led by Carphone Warehouse Founder Sir Charles Dunstone and his business partner Roger Taylor.

Over the past 12 months, HouseSimple claims it has firmly established itself as the second largest online estate agent in the UK thanks to “word of mouth from highly satisfied customers has propelled substantial growth, with property listings trebling in the past year” according to a statement from the company.

It boasts that it consistently outperforms traditional and online agency rivals and claims it is “40 per cent more likely to successfully sell, in 50 per cent less time, and at 99 per cent of asking price” - saving sellers on average £5,594 in fees across the UK, or £14,000-plus in London. 

HouseSimple says it has over 160 local agents and claims to have saved sellers over £20m in fees. 

However, Sky New says that HouseSimple's latest fundraising is understood to have valued the business at around £40m, a fraction of the £312m market capitalisation of Purplebricks, its listed rival.

It has been a momentous week for online agency, with Savills and Countrywide both announcing significant involvement with the sector.

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