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TODAY'S OTHER NEWS

Game over for online agents? They fail to get above 5% market share

Latest figures show that the top 10 online estate agencies have once again failed to exceed five per cent market share, despite the millions spent on marketing.

Data from respected property consultancy The Advisory, based on Rightmove and Zoopla inventory for the 14 days up to and including yesterday, reveals that the top 10 online agents accounted for precisely 5.0 per cent of all new listings.

This is actually a 0.2 per cent rise on the previous 14 days but is still well below calculations by some other analysts last year putting online agents’ share at between 7.0 and 8.0 per cent.

The Advisory’s figures for new listings between February 7 and February 21 are:

Purplebricks: 2,931

Yopa: 407;

House Simple: 395;

Doorsteps: 126;

House Network: 79;

99home: 49;

OpenHouse Estate Agent: 44;

Sellmyhome: 33;

Settled: 11;

Emoov: 10.

Purplebricks’ dominance within the online sector actually grew by 2.4 per cent over the past fortnight: it has 71.8 per cent of the new listings for the online sector.

But this of course came before yesterday’s profits warning and management restructure from Purplebricks, which may have given it adverse publicity amongst vendors.  

The Emoov entry sees it back in the top 10 under its new ownership; the original Emoov collapsed at the end of last year after mounting debts. 

By contrast “Easyproperty are nowhere to be seen” says The Advisory report.

The consultancy also says that counting all transactions - including of course those for traditional agents - the ‘new listings’ market contracted slightly in the past two weeks with just 86,376 properties brought to market, a reduction of 3,192 properties from the last period.

You can see The Advisory's latest update here.

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