OnTheMarket Says CoStar Backing Delivering Traffic, Stock and Leads Surge

OnTheMarket has reported a sharp uplift in traffic, inventory and lead generation since being acquired by CoStar Group and has restated its long-held ambition to challenge the UK portal duopoly.

The UK portal, which launched in 2015 as an agent-backed counterweight to Rightmove and Zoopla, was acquired by CoStar in December 2023. The deal marked a decisive shift for a business that had struggled for scale but retained strong brand recognition among agents.

Two years on, the company says the numbers are moving in the right direction. OnTheMarket claims website visits are up 55% since the acquisition, page views have increased by 110% and property stock has grown by 47%. Engagement metrics point to deeper intent, with property alerts doubling versus 2023 and sales leads up 94%.

Jason Tebb, now president of OnTheMarket, said:

“The strategy was clear from the outset: to implement CoStar Group’s expertise and investment early on to accelerate us toward our goal of becoming the market leading portal in the UK.

These initial two years have focused on fortifying the fundamentals that matter most to our customers: mobilising almost £50m of committed investment to build inventory, enhance web traffic and engagement from serious property seekers, and increase quality lead generation. All while continuing to provide fair and sustainable pricing.

The results speak for themselves. This significant growth is a clear reflection of the rising confidence in our platform as the trusted destination for property seekers and estate agents.”

While Rightmove and Zoopla remain far larger, CoStar’s capital and playbook appear to be giving OnTheMarket renewed momentum in a market where agents are increasingly receptive to credible alternatives.