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Agencies & People

Share of property sales market held by online agents continues to shrink

Figures from home buyers' website TheAdvisory shows onliners' market share slipping for second fortnight but continuing dominance of sector by Purplebricks.

Nigel Lewis

 

online market share

The share of the property market held by low-fee online estate agents has reduced for the second time in a row, according to the latest research by consumer advice service The Advisory.

Its rolling fortnightly snapshot of the sales market reveals that the top ten online estate agents accounted for 4.65% of all new listings over the past two weeks, down from 4.71% the fortnight before.

The research also reveals that, although Purplebricks is the clear leader in the online estate agency field, its share of this market has reduced by 4.5% since the beginning of January.

Over the past two weeks Purplebricks listed 2,846 new properties while HouseSimple listed 573 and Yopa 481. Most other online agents are a long way behind the top three including Doorsteps (135), 99Homes (53) and HouseNetwork (35).

The list of top ten agents by new listings includes eMoov for the first time since its website and tech was bought off its receiver by agency Mashroom late last year and re-opened its doors in mid-January. Over the past two weeks it listed 24 new homes for sale.

Market revival

The Advisory’s market snapshot also points to a minor revival in the property market – the number of homes brought to market over the past two weeks by all types of agent increased by 1.62% to 91,557, compared to the previous two weeks.

The figures for the online agent market includes those which compete with traditional ones entirely on price, but excludes hybrid agencies which charge similar fees to high street agents but only or partially operate online. These include EweMove, Sold.co.uk, ExpressEstateAgency, Springbok Properties, BritishHomeSellers, GetAnOffer, SellSimple and BricksMortar.

 

April 8, 2019

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