Purplebricks now listing over 20,000 properties on Zoopla

Purplebricks is currently listing over 20,000 sales properties on Zoopla, up from 15,642 a year ago. Of the 20,028 total, some 5,080 are listings new this month.

The annual increase is of 4,386 listings – which suggests an increase in Purplebricks’ market share, and/or a rise in the general number of properties coming to the market. It is also only the listing on Zoopla and would exclude any properties listed only on Rightmove and elsewhere.

The current listing figure on Zoopla also compares with that given in Purplebricks results, when it said it listed 64,376 properties in total in its 2017/2018 financial year.

In these latest results, Purplebricks says it is selling 81% of its listings and achieving an average of £1,168 per listing.

This is the the total figure as at July 28 this year:

This is the snapshot as at July 28 last year:

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10 Comments

  1. Shaun77

    Wonder how many of these are “Zombie” listings e.g. the seller has decided they no longer wish to sell or the transaction has fallen through and the vendor has just given up. However, in an attempt to project a greater degree of market share, they have been left online.
    Perhaps a more accurate figure to report would be the number of new, unique monthly listings and compare these YoY.

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  2. Bless You

    I wonder if it was woodford or the chuckle brothers who decided to expand to quickly. Their scheme is coming to an end across the world and investers can smell a rat.

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  3. Ostrich17

    That would be interesting to know – PB own KPI stats show a dramatic fall in instruction income to less than the minimum fee of £707.50(£849inc. VAT).

    “The revenue for the year was split 57:43 between instruction and ancillary revenue respectively (FY 2017:Â 70:30)

    2018 £ 1168 x 57% = £ 666 instruction revenue per listing
    2017 £ 1088 x 70% = £ 762 instruction revenue per listing

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  4. Mark Walker

    @Ostrich17 – my only guess would be introductory discounts awarded to new clients and maybe more likely, knocking off fees handed back to unhappy non-sellers and even some unhappy sellers.

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  5. Ostrich17

    Mark Walker

    That would be approx £100 per client or £1000 for 10% of clients?

    Maybe their new invoice factoring arrangement has an effect (netted off on KPI numbers) – it certainly improves EBITDA!

    “Due to differences in the arrangements with our new deferred payment provider, £1.7m of costs associated with the new agreement are recognised within interest payable (as invoice factoring costs) rather than within cost of sales as was previously the case.”

     

    Perhaps the debt collectors have factored in more risk.

     

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  6. PeeBee

    Reply to Shaun77 above.

    The “accurate” figure you seek will elude you forever. Unless PurpleBricks tell you what their version of an “accurate figure” is, at least…

    But here’s how Zoopla’s stats portray things – based on published daily “listings” in July (including ones with snow on the ground and trees with no leaves – but counted as NEW LISTINGS nevertheless…)

    July 2017: 6414

    July 2018: 6728

    The 6728 compares quite “interestingly” with the figure that Frau Renshaw quotes above of 5080 – which is what you get +/- a few when you check the listings based on “Last 30 days”. Even if you add all of those ‘listed’ on 1 July (163) it only bumps the total to 5243 – meaning that 1485 ‘listings’ have disappeared down the back of the mythical sofa we have previously discussed.

    22% of the month’s “listings” have, literally, disappeared before our very EYEs!!

    Magic??

    Not a trick I’ll be looking to emulate in a hurry…

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  7. Room101

    3112 currently on Richtmove, what gives?

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    1. PeeBee

      PurpleBricks have TWENTY-TWO Rightmove “branches” each with their own “listings”.  You are only looking at one of them – in this case, ‘Meridian’.

      Interestingly, they have 20 “branches” listed on Zoopla also (which don’t seem to tally with those of Rightmove, funnily enough…) – but as can be seen all of the “listings” are fed through the one for Head Office.

      zoopla.co.uk/find-agents/company/purplebricks-31628/

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      1. Room101

        Weird.  Rightmove have made it unnecessarily difficult; didn’t expect it.

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        1. PeeBee

          Rightmove have moved the goalposts several times in this respect.

          The cynics amongst us might think that there’s a reason that involves a moving tail-less donkey, a tail without a pin in it, and a lot of blindfolds…

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