OnTheMarket share price falls to equal lowest-ever level

The share price of challenger portal OnTheMarket has fallen to its equal lowest-ever level after a drop of over five per cent yesterday alone.

The portal closed at 65.26 yesterday after a fall of 5.43 per cent.

Earlier this month on Monday February 10 - precisely two years after the OnTheMarket was admitted to the AIM market on the London Stock Exchange - its share price was as high as 82.0 but since that time it has fallen, accelerating in recent days.

Its shares were first issued at 165p in February 2018.

Share prices have generally suffered in recent days as concerns about the coronavirus have damaged transport companies and those firms with Chinese connections in particular; however, UK agency and property-related share prices have seen only modest falls.

Rightmove's share price dropped by less than one per cent yesterday; agency shares generally dropped too, but by a smaller proportion than OnTheMarket.

In early February OnTheMarket reported that its visitor total for January - as measured by Google Analytics - exceeded 30m, a new monthly record and an increase of some 28 per cent over the same month last year. 

This was also well ahead of its previous one-month high - 27.2m reported for September last year. 

Rightmove reported that in January it had over 152m visits for the first time, a new monthly record for the leading portal; on one day alone last month it had 5.7m visits, again a record for a single day.