New figures show that online agencies’ share of listings of homes for sale has plummeted to 4.6 per cent.
This is well below recent previous figures ranging from five to over seven per cent.
Data produced by The Advisory consultancy suggests that although the figure has obviously fallen because of the collapse of Emoov and Tepilo, the trend may already have been moving in this direction anyway.
Gavin Brazg, The Advisory’s founder, says the chance of online agencies taking 10 per cent or more market share in 2019 now iappears “highly unlikely.”
He says Purplebricks are “clear leaders with 74.9 per cent market share of the online agent sector” and with Yopa now indisputably in second place as a result of Emoov and Tepilo’s collapse.
Based on figures - which you can see here - Brazg says: “House Simple look to be in some trouble with new listings down 56 per cent from October 3.”
He says Purplebricks are next with instructions down 44 per cent from October 3; by contrast
House Network has performed the best over this period with new instructions down only 30 per cent.
Another analyst, Mike DelPrete, calculated in the spring that online agents had 7.1 per cent market share, with both Emoov and Tepilo being growing players.
And in July this year the quarterly TwentyCi Property and Homemover Report claimed online agents constituted an 8.0 per cent share in the second quarter of 2018.