The latest analysis of new listings in the two weeks to last Friday show that online estate agencies continue to have under a 5.0 per cent market share.
In addition both Purplebricks and Yopa have lost ground relative to rival agencies, although Purplebricks remains by far the most dominant online firm.
Data from the widely-respected property consultancy The Advisory shows that between February 22 and March 8 inclusive Purplebricks took on 3,011 new listings. Second place fell to Housesimple, but with just 485.
Yopa - previously second to Purplebricks - was third with 453 and Doorsteps fourth with just 146.
The other onliners in the top 10 were all in double figures, just about: the troubled House Network, still believed to have significant financial difficulties, took on 82 new listings in the fortnight under review, while OpenHouse took on 51.
Then came 99homes on 46 new listings, SellMyHome on 20 and both Settled and easyProperty on a mere 14 apiece.
Cumulatively those 10 best performing online had only 4.77 per cent market share - well below some pundits’ predictions for them.
Despite negative publicity surrounding online agents generally - including the collapse of the original Emoov in December, a profits warning from Purplebricks and difficulties at House Network - it is interesting to see that Purplebricks’ fortnightly new listings have remained relatively buoyant for many months, taking into account seasonal factors.
This suggests other online firms are carrying the brunt of the ‘damage’ caused by only share failing to reach earlier levels of between 7.0 and 8.0 per cent.
The Advisory’s data on Purplebricks for listings per fortnight goes as follows:
Two weeks to…August 8: 2,910 new listings
To August 22: 3,012
To September 5: 2,957
To September 19: 3,221
To October 3: 3,074
To October 17: 2,946
To October 31: 2,658
To November 15: 2,423
To November 28: 2,064
To December 14: 1,704
To January 9: 1,534
To January 23: 2,731
To February 06: 2,843
To February 21: 2,931
To March 8: 3,011
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Now times the number of house listed by an average fee of say £2000.
That's how much money is taken from local economies, jobs and the nhs.
What is the govt. getting out of this? Buyers are losing out on service, sellers are being tricked and shareholders will never see their money back... all this so 2 brothers can buy their local football team to buy friends.
Been saying this for a while now, we have seen peak online-only disruption. There's nowhere left for them to go. Continuing to pump £ms & £ms in to advertising with NO GROWTH. Time to give it up people, back to the high street where business is done properly.
Housesimple stock is probably only rising since where I am in Lincolnshire/Yorkshire they are currently listing properties for free. No fee whatsover... They have listed around forty in my area but all on a free contract. Busy fools running around and earning nothing!!
Pubs latest advert on TV is really desparate
PBs.
Is this situation a first case of where the internet has failed to disrupt a traditional business.
It seems strange when rental listing operations like Openrent have disrupted conventional LA.
So not for selling a property.
What is it that is difference between letting and selling a property?
It seems there is no successful alternative other than a commission based sales service.
This is disappointing but we are where we are.
It seems the EA commission based sales model will be realistically the only game in town.
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