Purplebricks revenues in UK more than double

Purplebricks has revealed its interim results for the past six months ending October 31st which include UK revenue up by 118% to £39.9 million and a doubling of its Local Property Expert team to 650. Its overseas operations in Australia and the US are doing well too including revenue of £6.8 million in Oz and “solid progress” in the US where it now has 40 ‘local real estate experts’. But it’s most successful market remains the UK where Purplebricks has increased average revenue per instruction by 14% to £1,138. The UK operation also now claims to have 74% of the hybrid online agency market, with the next largest behind it, Emoov, a minnow by comparison. Online reviews One item sticks out in the results – Purplebricks’ reliance on its controversial listing with Trustpilot, on which it highlights a ‘five-star’ rating in all three markets. No mention is made of its recently-reinstated listings on allAgents. Purplebricks says that once the results are finalised it expects to report revenues of £84 million and £12 million in Australia. “We continue to win UK market share from traditional operators in what is a challenging market and consolidate our leading position with competing digital and…