portals Zoopla growth
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Latest property news
Zoopla claims 40 branches have returned to it from OTM
Zoopla Property Group has announced that over 40 agent branches have recently returned to it after initially leaving to list with on OnTheMarket, including a raft of multi-branch agencies and several independents. These include Howard Cundey which has 12 branches in Surrey, Sussex and Kent as well as Jeffries with nine branches in Hampshire (including a recent purchase of a single-agent rival). Other smaller but still multi-branch agents include TaylorMilburn with two branches in Essex; Jon Simon with three branches in and around Manchester and Midcalf Nichols, which has two branches in Stourbridge. “Agents now firmly grasp the ZPG value proposition and cannot afford to be at a competitive disadvantage, using services that simply do not deliver value for their business,” says Mark Goddard, Managing Director, ZPG Property Services (pictured, left). “We have the most effective marketing platform, the best software solutions and are now generating new revenue streams for our partners through products such as MoveIT.” Earlier this month the company claimed that in total over 500 agents had returned to it from OnTheMarket. Zoopla currently lists at least 6,446 sales and letting agents on its site while OnTheMarket lists 3,217. These figures do not reflect the number of…
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Marketing
Zoopla returns to growth
Zoopla ended last week as the one of the highest risers on the FTSE 350, as it returned to growth, the portal announced last week. According to its latest trading update, the property website has attracted a net rise of 213 branches in the four months to 31st July. The news triggered a ratings upgrade for Zoopla from ‘sell’ to ‘buy’, with Broker Panmure Gordon suggesting that shares in the portal look undervalued. Zooplalost a significant number of agency subscribers due largely to the launch of OnTheMarket (OTM) earlier this year and its restrictive ‘only one other’ portal rule. However, the group said that it had won back 100 agents in recent months – many from OTM – with market churn also nearing historic levels, according to Zoopla. The group also announced that the volume of people visiting its website remained flat at 45.6 million, which is significantly below Righmove, but towers above OTM’s 5.2 million visitors. Panmure Gordon analyst Jonathan Helliwell told the press that “near-term, OTM’s growth appears to have stalled.” He added, “Zoopla’s inventory and traffic are holding up pretty well, and the housing market looks to be picking up. We think the stock could continue to…
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