Zoopla Reports Decline in Home Sales but Preaches Hope

April 6, 2020
Share this Post: 

Recent numbers show, that in the UK, property sales have dropped by 70% since the stay-at-home orders were put in place. Conversely, sales are still taking place, just at a lesser rate.

And interestingly enough, Zoopla has reported that sellers are keeping their listings up even if there is no promise of cinching a sale.

The property portal goes on to explain that sales per estate agent, are only 1% lower than the month prior. There is no reason to pull a listing off of the market right now. Especially not when there's been an uptick in users browsing listings while they're stuck inside, as property portals turn to virtual tours and boredom sets in.

Sellers are letting their listings sit, biding time until the market picks itself back up again.

Zoopla supports this even if there are less transactions being made. The company is going by the idea that it's better for people to obey the shelter-in-place orders than risk their health by conducting business in person.

Recently, Zoopla entered an agreement with three major agents to offer fee-free services for the next five months while Rightmove's discounted agreement is coming to an end. Purplebricks is offering everything online through its platform.

UK's numerous property portals are continuing to churn out services that consumers can reap the benefits from. The market might be in crisis, but maybe the wait-and-see approach Zoopla is suggesting is the most beneficial in the long-term.

April 6, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zumper Movoto Deal
US Portal Operators OJO Labs and Zumper Sign Listings Deal

The US real estate portal operator OJO Labs has announced that it has signed a listings partnership deal with rental...

Read More
Women In Tech Rea And Zoopla
REA Group and Zoopla Backing Women in Tech Initiatives

Both leading Australian portal operator REA Group and British property portal Zoopla have today announced measures to back women in...

Read More
Idealista Apartments Barcelona
Idealista Wins Legal Fight Over Responsibility of Listings Content in Barcelona

Authorities in the Spanish region of Cataluña have closed the cases against Idealista which could have seen the portal company...

Read More
Alma Media House Symmetry
Alma Media Q3 Figures Show a Healthy Company as Stock Trades at Record High

Alma Media, the operator of Finland's two largest real estate marketplaces, has released figures from its Q3 that show record...

Read More

Popular News