“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

Love or Hate Rightmove
Breaking News

Average two-year fixed mortgage rate for 60% LTV now cheaper than five-year rate

The average two-year fixed mortgage rate for those with a 40% deposit (60% LTV) is now cheaper than the average five-year fixed equivalent, the first time this has happened since the mini-Budget The average two-year fixed, 60% LTV mortgage rate is now 4.18%, while the five-year equivalent is 4.19% The gap between average two-year fixed…
Read More →
Overseas Property

How UK Property Investors Can Manage Exchange Rate Risk When Buying Off-Plan Overseas

Off-plan purchases are especially common in developing overseas property markets with a high proportion of international investors. In these less mature markets, a significant share of stock is sold directly by developers, making off-plan transactions a natural sales model. These opportunities appeal to international buyers because they typically require less upfront cash due to extended…
Read More →
Breaking News

Foxtons Lettings Market Index – March 2025

London rental market gains momentum as new rental listings surge, Foxtons data shows   March saw a 14% increase in new rental listings across London compared to February Applicant registrations rose by 11% month-on-month in March. Year on year, demand was stable, tracking just 2% below March 2024 levels The average rent in March stood…
Read More →
Breaking News

UK’s mid-market firms show improved business growth in March but economic uncertainty continues

Key findings: NatWest’s Mid-market Growth Tracker shows improved business growth in March, led by a strong service sector performance SMEs register a softer decline in output levels during March Market conditions remain challenging and we could see continued challenges in the coming months   Mid-market businesses continued to outperform the wider UK economy in March,…
Read More →
Breaking News

ONS Private rent and house prices UK – April 2025

The Price Index of Private Rents (PIPR) measures private rent inflation for new and existing tenancies. The UK House Price Index measures house price inflation. Main Headlines Average UK monthly private rents increased by 7.7%, to £1,332, in the 12 months to March 2025 (provisional estimate); this annual growth rate is down from 8.1% in…
Read More →
Breaking News

Renters’ Rights Bill – what you need to know

The Renters’ Rights Bill is an extremely important piece of legislation for anyone who rents their home. For those in England (with some elements also covering Wales and Scotland), it represents one of the biggest changes in well over thirty years, and it’s important to be aware of what it might mean to you if…
Read More →