“Zoopla’s trading update underlines success of OnTheMarket”:

August 13, 2015

Ian Springett, Chief Executive of OnTheMarket.com, said: “Zoopla Property Group’s trading update only serves to underline the success and progress of OnTheMarket.com in continuing to disrupt the property portals market. Its tepid growth of 213 agent branches since its April 2015 update is a drop in the ocean in the context of its 23% loss of agents (which equates to 3,812 agents) between 30 September 2014 and 31 March 2015.

“The fact is that Zoopla Property Group has lost overall share of agents and traffic as OnTheMarket.com has become established and as the overwhelming majority of our members retain the dominant market leader as their other portal. Contrary to suggestions reportedly made today by Jefferies (joint sponsor of ZPG’s IPO last year), our one other portal rule remains in place.

“OnTheMarket.com was described six months ago by Alex Chesterman as a ‘short-term event’ but ZPG’s own trading update paints a very different picture.

“Support for OnTheMarket.com continues to increase daily and with such a strong desire for it to succeed from agents all across the UK – and a substantial growth in its traffic figures to more than 5.2million visits in July – we are confident not only that OnTheMarket.com is here to stay but that we can ultimately achieve our objective to develop a proper alternative to the market leader.

“It is hard to reconcile the property stock claims of Rightmove and Zoopla Property Group. Rightmove recently reported a 10 per cent increase in UK residential listings since the start of the year to 1.1million, claiming to display 50% more than any other portal. Yet Zoopla Property Group states today on its UK sales and rental search pages that it has 662,636 properties for sale and 215,652 properties for rent. This gives a total figure of 878,288. Moreover, searches conducted in the last 24 hours on the Zoopla portal show UK (England, Scotland and Wales) sales and lettings properties, including Sold Subject to Contract, Let and Shared Accommodation, total just 675,540.”

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Breaking News

Breaking Property News – 17/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   CEO Adam Pigott on tour in Norfolk with tlyfe App Full disclosure CEO Adam Pigott and his team are one of my earliest clients, so it is always a pleasure to hear what they have been getting up to. And this week they were…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker

Headlines The average 5-year fixed mortgage rate is now 4.84%, up from 4.45% a year ago The average 2-year fixed mortgage rate is now 5.23%, up from 4.77% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.77%, up from 4.46% a year ago The average 60% LTV 5-year fixed mortgage…
Read More →
Rightmove logo
Breaking News

Rightmove comment on inflation reducing to 3.2%

UK inflation slowed less than expected last month, making traders and economists more cautious about the likely pace of interest rate cuts. Matt Smith, Rightmove’s mortgage expert said: ‘It’s positive to see inflation continuing to fall this morning, albeit not by quite as much as expected, as the blocks continue to build towards the anticipated…
Read More →
Estate Agent Talk

Multifaceted Rewards of Vineyard Estates: Investing in Vineyard Estates in Provence for a Fulfilling Lifestyle Business

Vineyard estates provide an exceptional opportunity to invest in a lifestyle business that aligns with a passion for crafting something unique, freedom for creativity, and business interests while harmonizing with the rhythms of nature. In Provence, you can invest in winemaking and foster authentic connections with the land and community while enjoying your returns. It’s…
Read More →
Breaking News

Breaking Property News – 16/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   VTS Activate Multifamily launches Press Release – LONDON – April 16, 2024 – VTS, the industry’s only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced that it has launched a revolutionary new resident experience technology offering, VTS Activate Multifamily.…
Read More →
Breaking News

Breaking Property News – 15/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X. Ascendix deep dives into the world of the AVM This month Yana Yarotska from Ascendix gives some thought leadership on the operational world of AVM’s and how Artificial Intelligence plays into the mix. ‘AI property valuation refers to the application of artificial intelligence, such as machine learning…
Read More →