Zoopla FY25: Revenues Dip Slightly, with 16% Margin and Improved Profitability

Zoopla, the UK's number two real estate marketplace, has released its full-year accounts for 2025, showing steady revenues and improved profitability as its homeowner audience continued to grow.

Highlights for the year include:

• Revenues were £83.2m, down 1.1% year-on-year
• Profit of £20.7m for the year, with a margin of 16%
• Homeowners tracking their property on Zoopla grew by 39%
• Prospect Plus converted to listings at a rate of 43%
• Q1 2026 revenues up 9%

Paul Whitehead, Chief Executive Officer of Zoopla, said:

“Our strategy is working, which you can see in what we are delivering for our partners, building on the foundational work of the past 18 months. Valuation leads to estate agents grew 25% year-on-year, and our best performing product saw 43% of those leads convert into sales listings. New multi-year partnerships with home builders, estate agents and brand partners reflect our customer first approach to focus on delivering a measurable return on investment.”

"Our performance is built on a direct, trusted relationship with more than six million homeowners who engage with Zoopla long before they enter the search phase. They track their property value and demand, follow their local market and plan their next move - giving us insights into who intends to sell and when. Zoopla’s unique and proprietary homeowner data gives us an excellent foundation upon which to deliver future growth.”

At its core, Zoopla is undergoing a strategic shift away from a traditional advertising portal and marketplace to a data-driven homeowner platform. "Homeowners are a fundamentally more valuable audience than anonymous browsers," Zoopla said in its release, and the company says it will continue to launch products providing deeper insights to users considering a change of property.

Homeowners tracking the value of their property on Zoopla grew by 39% for the year, while Prospect Plus— Zoopla's product connecting high-intent homeowners directly with estate agents— converted 43% of its prospects into listings in 2025.

Meanwhile, new homes buyer leads grew 19% year-on-year (ending Q1 2026), while Zoopla commented that "housebuilders currently allocate just 10% of their marketing budgets to online platforms, versus more than 70% for estate agents," making new homes a compelling market for the portal.

Whitehead added that the company has the continued support of Silver Lake, with the owners greenlighting this year's acquisition of newhomesforsale.co.uk and backing the portal's shift towards educating a homeowner audience with better products and data.

Zoopla CEO on Product, going hyperlocal, high-quality leads

Whitehead told Online Marketplaces that "bringing in as many consumers as possible to send as many leads as possible, irrespective of outcome" is no longer the name of the game at Zoopla.

Zoopla has faced a tough narrative since Whitehead took control of the business. What did he observe on day one, and what’s changed since?

"Look, it was certainly something I observed coming in that the foundations of Zoopla were still pretty strong. We spent a lot of time on what I call marketplace basics. We've had to do quite a bit of heavy lifting and investing in the platform, improving customer perception, sharing the amazing data that is proprietary to Zoopla, and this hidden gem of homeowners, around 3.4 million when I arrived, and we're now six and a half million."

Meanwhile, Silver Lake remains a "super supportive" backer, continuing to invest in Zoopla as a standalone business, backing the pivot to a homeowner-first strategy, and greenlighting the newhomesforsale acquisition at the turn of the year. However, M&A is not a front-and-centre focus for Zoopla, and organic growth is preferable.

Regarding the acquisition of newhomesforsale.co.uk, acquired at the beginning of the year, Whitehead said, "[We think] the market opportunity is significant, [but] we've got to prove that the attribution of the prospects and leads that we send to builders works. In terms of the rationale, they were the largest standalone dedicated new homes brand. And when we looked at it in terms of complementarity of our consumers to their consumers, it was additive [to our Group audience]."

On Myhome, Whitehead was cautious on monetisation, but did reveal that users can track listing performance on Zoopla through the app. Despite a strategic shift towards an engaged homeowner audience, Whitehead says Zoopla will remain a marketplace-first model.

"I think the core fundamentals of Zoopla will still be a marketplace because you've got consumers on one side and then you've got your partners, whoever those partners are, agents, builders, brands on the other side. We’re working to evolve how to engage with those partners and consumers.

“The old model of bringing in as many consumers as possible to send as many leads as possible, irrespective of outcome, is not the strategy we're pursuing. The strategy we're pursuing is engaging more deeply with those consumers that come to the platform to then engage more deeply with our partners. I think you'll see more product announcements centred around that strategic approach over the coming years.

"I'm not sure I agree that the way to drive success is by directly monetising consumers through the My Home platform. I think you can take a marketplace view to drive contextual relationships from that homeowner audience, getting deeper into the move transaction and wanting to improve the home buying/selling experience for consumers.

"We have introduced tools where if you have sent a vendor prospect through the My Home platform to an agent and that agent goes on to list your property, you will then get to see the live performance of your property on Zoopla and see how many views you're getting, how many leads are being sent each week."

Whitehead said the portal’s decision to take a ‘Hyperlocal’ approach with its new pricing packages has been well received by agents who requested more flexible pricing:

"We spoke to over 350 agents. One of the pieces of feedback was that dynamics in postcodes are going to differ. The approach that we have taken is to look at the house prices in that area, compared to our performance within that area and set the rate card and the package accordingly. We want to back ourselves according to the performance we're delivering.

“We started this migration work in January this year. We wanted to test it in the market relatively quietly to start with. So far it's been landing very well."