Report revisited after five years: How the online market has changed

October 14, 2019
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City analysts at Hardman & Co released a report with a five-year growth model for hybrid property portal, Purplebricks, which shows how much the online market has changed since the report was issued back in December of 2015.

At that point, said Hardman, Purplebricks had over 60% market share of new online instructions.

Its graph shows Purplebricks comfortably ahead of House Network, Emoov, Tepilo, Housesimple and Hatched.

Of those firms, Hatched has since been dispatched, while Tepilo and House Network have gone into administration.

Housesimple survives, but with a totally different business model – now operating only in the north, and charging nothing to vendors, but planning to make money out of selling additional services.

Emoov went into administration along with Tepilo, but is now in new hands. Yopa was not even mentioned in the 2015 comparison graph, (and came last, behind easyProperty, in a separate chart showing which agents had the most properties for sale).

Only Purplebricks is recognisable in its 2015 form – and even so, there are huge differences between then and now.

At the end of 2015, Purplebricks charged £665 plus VAT outside London, and £965 inside London. It now charges £899 and £1,399 respectively, both including VAT.

Read more here

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