Northern Irish Rivals PropertyPal and Propertynews Announce Shock Merger

Two competing real estate portals have announced that they have agreed a merger deal. In a shock to the property sector of Northern Ireland, PropertyPal and Propertynews said that their parent companies will join forces.

A blog post on Propertynews' website stated that both portal websites will remain active with significant investment planned for both brands to improve tech infrastructure and agent software.

Commenting on the deal, Jordan Buchanan, CEO of PropertyPal, stated, “This merger is very positive for our people, our customers, and our website users. We are bringing together the best of our technology, people, and cultures to create something even better. Our aim is to enhance the value we offer to consumers and agent partners alike.”

“By combining our resources and expertise, we will deliver more efficient, cost-effective, and user-friendly platforms. Our commitment to innovation and customer satisfaction remains at the core of everything we do, and I am confident that this merger will drive forward our vision of providing exceptional service and support to the Northern Ireland property market. We look forward to working closely with our agents and stakeholders during this exciting transition and beyond.”

Propertynews was bought out by local software development business GCD in 2021. The portal had belonged to Mediahuis the Belgian media business that owns Zimmo in its home market and, until recently, ran the Dutch portal Jaap. GCD announced a £1 million investment into Propertnews.com to reinvigorate the portal and until recently had been running a guerilla marketing campaign against Property Pal (pictured below).

News of the merger comes after PropertyPal resolved a dispute with its agent customers about its pricing. In March the BBC reported that the portal was facing a revolt from some of its customers after its management tried to force through pricing changes without prior consultation. It has been suggested, although not confirmed, that the portal was attempting to switch from a pay-per-listing model to one based on monthly subscriptions.

The merger will see GCD become a shareholder of the parent company, PropertyPal Ltd as well as the formation of a new leadership team (pictured below).

Proeprtynews Managing Director, Andrew Gough, will join PropertyPal’s Board of Directors alongside Conor MacCarrick, Cecil Hetherington and PropertyPal founder, Errol Maxwell. Recently appointed PropertyPal CEO, Jordan Buchanan will also be on the board and will retain his position managing the company while Emma McNally, Commercial Director at Propertynews, will become Chief Operating Officer.

Together, PropertyPal and Propertynews look set to dominate the Northern Irish market.

The main British portals, Rightmove and Zoopla are not nearly as strong in Northern Ireland as they are elsewhere while CoStar-owned OnTheMarket pulled out of the region recently. Meanwhile, Adevinta-backed Daft.ie which operates in the Republic of Ireland has very sparse listings coverage north of the border.