First Time Buyer
Purplebricks dominates online with 69% market share
High street names continue to dominate the estate agency sector and have grown their 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 8% between 23 January and 6 February, beating Purplebricks and Yopa which both grew their listings by 4%.
Compared to the previous two weeks, high street estate agents 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 cut 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”.
Purplebricks continued to dominate the online estate agency sector, although its market share slipped by 1.6%.
It claimed almost 70% 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 395 properties combined.
Emoov also returned to the market, listing its first seven properties since it was relaunched after coming out of administration.
The Advisory founder and chief executive Gavin Brazg said: “Purplebricks is the clear leader taking 69.4% 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 was conducted using data from Zoopla and Rightmove.