A property portal specialising in property investors is poaching thousands of searchers from Rightmove as competition within the online home search market hots up.
Property.xyz says it is gaining significant traction just six months after officially launching because the mainstream portals are ill equipped for property hunters with specialist needs.
For example, on many mainstream portals it is hard to search specifically for new-builds, properties ideal for first time buyers, retirement homes or buy-to-let properties, which are hidden within general lists of homes only searchable by area or price.
Thin on detail
Rob Jones CEO of the property portal (pictured), says: “Investor buyers are great buyers, but the number one portal is not their friend; it is too thin on detail and hard to search on, so now they are coming to us.”
Jones says his portal lends itself to lockdown because landlords and investors are less fussy about viewing properties and are more used to taking risks with purchases at auctions.
“Off plan, auctions, and ready tenanted properties, in the current environment are hard to view in person,” he says.
“But if you are an out of area buyer, then virtual viewing and data is ultimately what you need anyway. This leads to properties still being bought and sold actively even when viewings aren’t possible.”
The portal has over 100,000 properties listed on its platform from several high profile agencies including Purplebricks, Chestertons and Belvoir.
Mostly listing apartments, it offers rich data on yields, capital value growth, local information and market activity.