Strike is fastest growing estate agency at the moment – report

Data from TwentyCi shows the agency has grown its market share of instructions by nearly 50% over the past 12 months to 1.4%.

strike sam mitchell

Market data from leading property industry research firm TwentyCi shows that the top three estate agencies for growth in the UK are all hybrid or online operators.

The figures, which the research firm requested to be partially redacted before publication, nevertheless suggest that Strike now holds the second-largest share of the property market for new instructions at 1.4% behind Purplebricks in pole position at 3.4% and ahead of Yopa at 1.3%.

These figures are for brands not estate agency groups. The Connells/Countryside behemoth holds at least 10% of the sales market.

Strike has been busy spending significant sums on TV and online advertising recently using an ad that shows vendors dancing in celebration after selling their homes ‘for free’ via the firm.

Purplebricks

The data shows to The Neg suggest that Strike and Yopa are taking market share off Purplebricks, which has seen its market share back-pedal, the data suggests.

Strike is growing the fastest in terms of market share, up from 1% to 1.4% over the past 12 months, a growth of 49%.

The figures will be a slap in the face for the many Strike detractors within the industry, who say the firm’s model does not appeal to vendors outside of the ‘restricted-budget’ home-moving market.

The hybrid agency recently launched its service nationally after months of testing its service in several regional markets, principally in and around Manchester and other parts of the North.

Its controversial free-to-use service generates revenue via referrals to third-party suppliers of conveyancing and mortgages.


What's your opinion?

Back to top button