Purplebricks Slashes Prices as New Owner Vows to 'Disrupt' Once Again

The new owner of Purplebricks has cut prices in his first move since snapping up the beleaguered portal for just £1.

Purplebricks officially changed hands last week when Strike's offer received 91% of shareholder votes at a general meeting, with a further 85% voting in favour of Purplebricks delisting from the stock market.

Now Sam Mitchell, dual-CEO at Strike and Purplebricks, has introduced a new nationwide pricing policy of £999, including London which previously had a premium, with the pro-pack hitting £1,699. The new prices represent a 26% cut for properties outside London and 67% for properties within London and the South East.

The price includes professional photography and floor plans, as well as a Local Property Partner (previously Local Property Expert), while the pro plan adds accompanied viewings to the offer.

The prices will return Purplebricks to its original disruptor status, says Mitchell—who replaced Helena Marston as CEO with immediate effect upon her resignation last week.

“We are back in the game with a new value offering, returning to our roots as a major disrupting force in the industry.

“With the support of our new owners, we are going on the offensive again with the launch of the first element in our new strategy to recapture market share, and provide consumers with a much-needed value offering in these difficult economic times,” he said.