In its trading statement earlier this month, Zoopla Property Group stated that its listings inventory had increased by seven per cent from 828,000 on 1 April to 882,000 on 31 July. But whilst Zoopla’s UK sales and lettings search pages claimed property numbers totalling 878,288, OTM questions this rise by stating that searches conducted on the Zoopla website on 12 August returned only 675,540 properties in England, Scotland and Wales.
“It is interesting to note that Zoopla has since reduced the claimed property numbers on its UK sales and lettings search pages so that the total now comes to 692,058 [as at 22 August]”, the statement from OTM noted.
The figure of 692,058 for UK sales and lettings properties includes Shared Accommodation, which are provided by EasyRoomMate, and listings which are Sold Subject to Contract or Let, according to OTM.
OTM suggested that Zoopla may have also been including its overseas property listings within the UK residential property figures.
The statement added, “Zoopla’s Overseas Sales page now shows a figure for properties for sale which, at 22 August, was 152,592 properties. Adding this to the claimed UK number gives 844,650, which is presumably Zoopla’s total property listings – implying a fall from the 882,000 claimed on 12 August.”
It continued, “A search on Zoopla as at 22 August excluding those categories produced a figure for available properties for sale or to let in England, Scotland and Wales of 422,492. Similar searches conducted on 20 September 2014 and 28 January 2015 produced 614,335 and 440,266 properties respectively, confirming that Zoopla’s available property stock fell substantially at the launch of OnTheMarket.com and has continued to fall since that time as it has continued to lose overall share of agents, UK property stock and traffic to the market leader and to OnTheMarket.com.”
In response to these statements, Lawrence Hall of ZPG commented, “The figures we have provided to the market have always been accurate and have included UK residential listings, overseas listings and commercial listings. We have recently updated our website to show only the relevant figures in each separate channel. Our total listings have continued to grow over the past few months per the figures we have released.”