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Purplebricks dominates online estate agents with 69% market share

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  • 07/02/2019
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Purplebricks dominates online estate agents with 69% market share
Purplebricks has taken two-thirds of the online property listings but the top 10 online estate agents (OEAs) account for just 5% of all homes listed for sale.

 

The high street still has a stranglehold on the estate agent sector and has grown its listings by more than the two biggest online names – Purplebricks and Yopa.

According to data analysis by The Advisory, high street estate agents increased new listings by eight per cent between 23 January and 6 February, beating Purplebricks and Yopa which both grew their listings by four per cent.

Overall compared to the previous two weeks, high street estate agents (HSEA) increased new listings from 78,424 to 85,469 with the top 10 online agents accounting for just 4,099 of those.

Earlier this week LSL Property Services announced it will be cutting the number of Your Move and Reeds Rains estate agency branches from 404 to 280 as part of a company restructure.

However, it added that it expected traditional estate agents to represent “the substantial majority of the residential sales and lettings markets for the foreseeable future”.

 

Emoov returns

Purplebricks continued to dominate the online estate agent sector although its market share slipped by 1.6 per cent.

It claimed almost 70 per cent of new online listings with 2,843, compared to second and third biggest Yopa and House Simple with 450 and 411 respectively.

The remaining seven agents making up the top 10, listed just 395 properties combined.

Emoov also returned to the market, listing its first seven properties since relaunching after being bought out of administration.

The Advisory founder and CEO Gavin Brazg said: “Purplebricks is the clear leader taking 69.4 per cent of all new listings secured by the top 10 online estate agents.

“Yopa is in second place taking 10.9 per cent of all new listings.

“And Emoov is back. Having listed just seven properties in the last 14 day period it is yet to place in the top 10 online estate agency league table.”

The analysis is conducted using data from Zoopla and Rightmove.

 

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