An analysis of the market share of online agents shows they are on 4.8 per cent - virtually unchanged from the position a year ago.
The Advisory, a consultancy that monitors housing market trends, says that in the two weeks to last Friday, January 31 2020, online agents recorded a 4.8 per cent share. This was based on 90,933 homes coming to market in that fortnight period.
In the two week period before January 31 2019 the share was an almost identical 4.58 per cent. That was based on 99,519 homes coming to market in the fortnight in question.
Other factors were very similar too.
For example, in the two week period this year, 2020, Purplebricks had 2,843 new listings; in the same period of 2019 in was 2,843. Purplebricks’ share of there online sector was 71.9 per cent this year and 69.4 per cent in 2019.
It’s a similar story in principle for Yopa; 466 listings in the two week period of 2020 and 450 listings in 2019.
But the big exception is Housesimple which, according to The Advisory, had just 311 new listings in the fortnight under analysis in 2020. A year earlier it had 411. “Housesimple seems to be going backwards” was the description included in The Advisory’s note to journalists about the analysis.
Housesimple, which in June 2019 announced it was listing some homes for free, claimed in December that it was the second largest estate agency in some parts of the UK. Also in 2019 it recruited an external marketing firm to operate “across a PR, social and content brief to support the national roll-out of its new ‘sell your home for free’ service.”
Gavin Brazg, founder of The Advisory, says: “The online estate agency sector continues to bump along at the circa. five per cent of market share mark.With Purplebricks market share of new listings (last 14 days) being 3.12 per cent of the entire market, they are going to need to pull some big rabbits out of some big hats in order to get to their stated goal of 10 per cent market share. 2020 will be an interesting year.”