Purplebricks delays fees re-structuring again...

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02 November 2020

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By Graham Norwood

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Purplebricks delays fees re-structuring again

Purplebricks has issued a statement to its shareholders saying it’s ‘never been more relevant’.

However, the expected radical change to its fees structure appears to have been delayed again.

Four options for new fees have been trialled by the company in the lead up to the spring lockdown and it had been expected one would be chosen by now for the future development of the firm.

However, today’s trading statement looking back at recent months is much more general with Vic Darvey, chief executive, saying: “Our growth in instructions through the period demonstrates that Purplebricks' proposition has never been more relevant, particularly in the current market, and our strategic progress has helped us to capitalise on the pick-up in market activity.

“We expect to deliver a pleasing profit performance in the first half, but it is too early to extrapolate this out to the second half of the year given the expected end to the stamp duty holiday and the potential impact of increased COVID-19 restrictions on the housing market.

“As a result, we are planning cautiously around the outlook for the full year."

The company says it expects t report an eight per cent increase in instructions for the six month period to late October and a 20 per cent increase for the five months since June.