An internet monitoring service operated by international financial services giant Morgan Stanley says OnTheMarket is continuing to lose both its share of the portal market and the number of properties listed on its site.
In data released at the end of last week Morgan Stanley says: “In the UK, ZPG and Rightmove listings remain stable, whilst OnTheMarket continues to lose share.”
It continues by saying that since December, Rightmove has added 58,000 properties to its inventory and Zoopla has added 38,000 - both were increases of six per cent to their respective inventory totals at the end of last year.
The analysis states that Zoopla's listing market share against Rightmove has remained broadly stable at around 74 per cent.
However, it says OnTheMarket has lost 6,000 properties since December - equivalent to two per cent of its stock. “Properties on OnTheMarket were down 11 per cent year on year, showing its share loss has continued” the Morgan Stanley note to investors concludes.
In March this year Russell Quirk, founder of hybrid estate agency eMoov, claimed OnTheMarket had lost 200 branches in three weeks, to which the portal responded: “Mr Quirk is entitled to his opinion.”