Portal sells stake to fund purchase of house price website

PropertyHeads, a portal which describes itself as the industry’s social network, has sold a three per cent stake partly to raise funds for an acquisition.

It has snapped up the 17-year-old website OurPrices which will add 700,000 registered users to PropertyHead’s existing database.

“OurProperty [has] been at the forefront of housing market data for some years now and will allow us to provide unrivalled benefits to our agents and consumers. It’s a real statement of intent in the marketplace and we’ve gone from strength to strength in the short time we have been around. It serves as evidence that our carefully designed investment strategy continues to flourish and we have a number exciting deals in the pipeline to be announced shortly” according to PropertyHeads founder and former City investment manager Ben Davis.

PropertyHeads started in 2018 and claims to have 10,000 estate agencies and other property-related companies registered on its platform.

It says it combines services and platforms for users that are typically associated with LinkedIn, Facebook and property portals to create “an all-encompassing hub of information, content and interaction for all things property, crucially delivered around the specific interests of the user.” 

In addition to its portal function the site allows users to create profiles to reflect their interests, preferences and requirements relating to housing.