Online agency share now hits 8% of the market says new survey

Over 15,000 households have exchanged after listing with an online agent in the second quarter of 2018 - that’s eight per cent of the total, according to a new report.

The TwentyCi customer intelligence consultancy’s report says this shows a rise from the seven per cent recorded in the first quarter. 

The survey reveals that online agents show what it calls “significant growth throughout England and Wales as the key online brands become national players” - no individual firms are mentioned but clearly this is likely to indicate stronger performances by the likes of Purplebricks, Emoov and Yopa. 

There is also evidence that more high-end sellers are willing to use onliners: in the second quarter of 2018 some 5.53 per cent of homes exchanged within the price band of £350,000 to £1m were with online firms.

Between £200,000 and £350,000 the percentage was 7.72, and for those below £200,000 the percentage was 8.85. 

In Greater London as a whole and the south east growth is slower but over the past year there has been dramatic growth of online usage in many other regions however.

Remember, these figures (below) show percentage growth over the past 12 months, not the absolute share of the market:

Yorkshire and Humber: up 51.58% year on year

Inner London: up 47.34%

Wales: up 45.21%

North West: up 45.07%

East Midlands: up 44.04%

East of England: up 42.70%

North East: up 38.55%

West Midlands: up 35.75%

South West: up 33.21%

Greater London: up 23.09%

South East: up 16.67%

The full report packs in a lot of information about the market, agents and other aspects of home moving - it’s well worth a read and you can find it here.