PurpleBricks announces trading update

May 11, 2016

Purplebricks Group plc, the leading hybrid estate agency providing a new way to sell, buy or let property, today announces a trading update for the year ended 30 April 2016 ahead of reporting its final results on 16 June 2016.

Trading throughout the second half of the year has continued the strong growth experienced in the first half. Revenue for the full year is expected to be approximately £18.5m, a year-on-year increase of some 445%. see more

Commenting on the results, Michael Bruce, Chief Executive, said: “Our rapid growth in the year demonstrates that customers are increasingly being won over to our hybrid model, which offers high quality service through our experienced Local Property Experts and innovative use of technology, as well as a competitive, flat fee.

 “We enter the new financial year with the benefits of a full national rollout, a growing brand presence, upgraded technology through the recent launch of the Purplebricks’ app, the in-house Data Sales Unit and a strong cash position.  With solid underpinnings, momentum and the size of the market opportunity, we are confident in proving the business model and delivering value for all of our shareholders.”  

To read the full trading update for year ending 30 April 2016 click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

International buyer slowdown one of Prime London’s biggest challenges

The latest survey of UK prime residential agents by AgentWise has found that many believe a slowdown in international buyer activity to be one of the biggest challenges facing the market today, whilst many have also noted an increase in the number of clients looking to explore property opportunities overseas rather than the UK. AgentWise…
Read More →
Breaking News

Housing market hit by £21m increase in fall-through bill

The latest Fall-Through Index by the House Buyer Bureau reveals that the number of property fall-throughs across the UK increased by 9.8% during the first quarter of 2026, resulting in an additional £20.9m in costs to the housing market compared to the previous quarter. House Buyer Bureau analysed the latest data from TwentyCi on the estimated…
Read More →
Breaking News

Is UK Construction Stuck in a Rut?

Glenigan data for Q.2 shows construction performance weakening further, dashing hopes of recovery in H.2 2026   The value of underlying work starting on-site during the past three months declined 15% and fell 38% below last year’s levels. Residential construction starts fell sharply, dropping 31% against the preceding three months and plummeting 52% compared with…
Read More →
Breaking News

Home sellers have a 24-hour patience threshold

Survey shows that the age of instant communication has reached estate agencies New research from Street Group suggests Britain’s home sellers have developed a “24-hour patience threshold”, with the vast majority expecting estate agents to respond, provide updates or take action within a day at virtually every stage of the sales process. The survey of…
Read More →
Breaking News

Lloyds House Price Index for June 2026 – Thoughts from the Industry

The latest Lloyds House Price Index for June 2026 shows that: House prices increased by +0.2% between May 2026 and June 2026. Annual house price growth increased slightly to +0.6% in June 2026, up from +0.5% in May 2026. The average UK house price now stands at £299,330.   Thoughts from the Industry   Nathan…
Read More →
Breaking News

House prices edge up in June as borrowing costs start to ease

• House prices rose +0.2% in June, following a -0.2% fall in May • Average property price now £299,330 compared with £298,812 in May • Annual growth up slightly to +0.6%, from +0.5% in May • Northern Ireland continues to record the UK’s strongest annual growth at +7.4%   Nations and regions house prices Northern…
Read More →