Purplebricks launches downunder.

August 30, 2016

Purplebricks the UK based online estate agent is now set to launch in Australia, launching  in Melbourne and southeast Queensland ahead of a national rollout.

The company has already seen rapid growth in the UK with its model, it has booked heavy advertising costs in attracting its client base, this has resulted in losses overall even though revenues increased in the year to April.

Purplebricks expects to spend $17.4 million (£10 million) setting up in Australia over the next two years, and aims to break even within that time.

In a recent news  article Michael Bruce, Purplebricks co-founder reportedly said  “We believe the Australian market can grow quickly because we believe our flat-fee model will get into the hearts and minds of Aussie homeowners quickly,” also reiterating that the business would be profitable in the UK “during the course of this year”.

 

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.

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