Following the Australian Financial Review‘s recent publication of claims that 27 of its Local Property Experts have quit since March, with suggestions that they have been unable to make the money they expected, Purplebricks has strongly denied that its business in Australia is in any kind of difficulty.
A Purplebricks spokesperson has said, “We have hired 18 agents in the last two months.
“The net number of agents in the field in Australia is unchanged from March, despite some churn.
“We are winning market share in a declining housing market.
“Our growth allows us to continue to recruit while many traditional operators are making substantial redundancies.”
The spokesperson also said that the situation was unchanged from its trading update in late March when it announced the £1125m Axel Springer investment in Purplebricks, “Both the US and Australia Purplebricks businesses are set to at least meet full-year expectations,” the spokesperson said.
He added, “Market expectations are for year-on-year revenue growth in Australia of 250%.
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