Zoopla Reports Decline in Home Sales but Preaches Hope

April 6, 2020
Share this Post: 

Recent numbers show, that in the UK, property sales have dropped by 70% since the stay-at-home orders were put in place. Conversely, sales are still taking place, just at a lesser rate.

And interestingly enough, Zoopla has reported that sellers are keeping their listings up even if there is no promise of cinching a sale.

The property portal goes on to explain that sales per estate agent, are only 1% lower than the month prior. There is no reason to pull a listing off of the market right now. Especially not when there's been an uptick in users browsing listings while they're stuck inside, as property portals turn to virtual tours and boredom sets in.

Sellers are letting their listings sit, biding time until the market picks itself back up again.

Zoopla supports this even if there are less transactions being made. The company is going by the idea that it's better for people to obey the shelter-in-place orders than risk their health by conducting business in person.

Recently, Zoopla entered an agreement with three major agents to offer fee-free services for the next five months while Rightmove's discounted agreement is coming to an end. Purplebricks is offering everything online through its platform.

UK's numerous property portals are continuing to churn out services that consumers can reap the benefits from. The market might be in crisis, but maybe the wait-and-see approach Zoopla is suggesting is the most beneficial in the long-term.

April 6, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 120120670
Zillow and CoStar Share Prices Shift on News of NAR Shock Settlement

The trajectories of real estate portals in the United States may be about to diverge as the National Association of...

Read More
Shutterstock 1454624438
U.S. Portal Operator OJO Labs Acquires The LEAD Syndicate

The U.S. PropTech operator OJO Labs has announced that it has acquired The LEAD Syndicate, a provider of teach solutions...

Read More
Onthemarket Employees
OnTheMarket PR Push Continues with Agent Signups and Roadshow

The UK's number three portal OnTheMarket (OTM) is definitely ramping up its PR in the early months of 2024 with...

Read More
Product Roundup 13March24
Product Roundup: FangDD, Yandex, Redfin, Realtor.com, Keyper, OneDome and MagicBricks

Another week, another big product roundup for portals and proptechs worldwide. Here's what we've spotted...   FangDD shares soar 80%...

Read More

Editor's Pick