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TODAY'S OTHER NEWS

Purplebricks market share falls as online sector becomes still weaker

New data from property consultancy The Advisory shows that the top 10 online estate agents now have a combined market share of a mere 4.4 per cent of all new listings.

This is down from 5.19 per cent just three weeks ago.

Purplebricks remains the single dominant online agency but after a challenging recent period for the agency - which saw its founder leave the company and its international adventures scaled back - it now takes 67.5 per cent of new online listings; the last time The Advisory undertook the same exercise, Purplebricks took 71.2 per cent.

Housesimple was the second place online with 12.7 per cent. 

In absolute numbers, between May 3 and May 17 the top 10 agencies took on these numbers of new listings (as taken from the inventories of Zoopla and Rightmove):

Purplebricks - 2,749;

HouseSimple - 516

Yopa - 482;

Doorsteps - 145;

99Homes - 80;

OpenHouseEstateAgents - 53;

imovehome - 45;

emoov - 24;

sellmyhome - 15;

easyproperty - 8.

Purplebricks was the only online agency in the top three to experience a contraction in growth from 3,017 new listings in the previous two weeks to 2,749 in the May 3 to May 17 period. This was a 9.7 per cent contraction.

Overall during the recent fortnight under review, stock levels in the UK residential market increased with 95,926 properties brought to market - that’s an increase of 9,983 properties from the previous two week period.

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    Having had the unfortunate opportunity to work for Purplebricks, it was obvious to me that their position would not be maintained for long. They are a one dimensional listing tool. As the market toughens there are no time served, experienced negotiators calling and emailing potential buyers, conducting viewings on a regular basis, negotiating face to face offers. They have been found out good and proper! Quality hight street agents will always reign supreme and offer real value for money with a professional service. Watch and weep Purplebricks as your share price nose dives even further, to its true value!!

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