New data from property consultancy The Advisory shows that the top 10 online estate agents now have a combined market share of a mere 4.4 per cent of all new listings.
This is down from 5.19 per cent just three weeks ago.
Purplebricks remains the single dominant online agency but after a challenging recent period for the agency - which saw its founder leave the company and its international adventures scaled back - it now takes 67.5 per cent of new online listings; the last time The Advisory undertook the same exercise, Purplebricks took 71.2 per cent.
Housesimple was the second place online with 12.7 per cent.
In absolute numbers, between May 3 and May 17 the top 10 agencies took on these numbers of new listings (as taken from the inventories of Zoopla and Rightmove):
Purplebricks - 2,749;
HouseSimple - 516
Yopa - 482;
Doorsteps - 145;
99Homes - 80;
OpenHouseEstateAgents - 53;
imovehome - 45;
emoov - 24;
sellmyhome - 15;
easyproperty - 8.
Purplebricks was the only online agency in the top three to experience a contraction in growth from 3,017 new listings in the previous two weeks to 2,749 in the May 3 to May 17 period. This was a 9.7 per cent contraction.
Overall during the recent fortnight under review, stock levels in the UK residential market increased with 95,926 properties brought to market - that’s an increase of 9,983 properties from the previous two week period.
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Having had the unfortunate opportunity to work for Purplebricks, it was obvious to me that their position would not be maintained for long. They are a one dimensional listing tool. As the market toughens there are no time served, experienced negotiators calling and emailing potential buyers, conducting viewings on a regular basis, negotiating face to face offers. They have been found out good and proper! Quality hight street agents will always reign supreme and offer real value for money with a professional service. Watch and weep Purplebricks as your share price nose dives even further, to its true value!!
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