Purplebricks has tightened its vice-like grip on the online market according to a new analysis - but the race is on for second place amongst online agencies.
A study by Property Road shows that Purplebricks grew its share in the online sector last year, from 53.2 per cent in January to 59.3 per cent in December.
“However, up until December, their share had remained relatively static throughout the year indicating that is they who potentially have gained the most from the administration of Emoov and Tepilo” says Property Road.
But it says the success story of 2018 amongst online agents may be Yopa - the firm backed heavily by Savills and LSL Property Services.
With a share of 9.6 per cent in January, this had grown to 15 per cent by December.
“While this may a slightly smaller gain than Purplebricks, it appears to be less influenced by Emoov and Tepilo dropping out of the market as it has been steadily increasing throughout the year” says the new study.
In terms of absolute numbers of active listings at the end of 2018, Property Road says Purplebricks is way ahead with 20,272, while Yopa has 5,114,
Express Estate Agency - using a model more like a traditional agent - is next up with 4,375.
Doorsteps has 1,705 and HouseSimple 1,491 while Easyproperty trails badly with 219 listings.
PropertyRoad predicts consolidation within the hybrid/online market this year, saying that: “It’s likely that as we head into 2019, we’ll see more of the smaller guys close up shop or get bought out by the bigger brands in the market.”
You can see the raw data that Property Road works from here.