Record traffic and leads for OnTheMarket in May

RNS Number : 4552B

OnTheMarket plc

07 June 2019

 

7 June 2019

Record visit traffic and leads for OnTheMarket in May 2019

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, announces today that traffic to its portal in May 2019 reached 25.4 million visits*, a new monthly record.

This result is more than an 8% increase on January's seasonal high and previous record month of 23.5 million visits.

The increase in traffic helped to deliver record levels of leads for OnTheMarket's estate and letting agent customers. Last month, the portal generated approximately a 15% increase in the number of phone and email leads compared with January 2019.

As at 3 June 2019, OnTheMarket.com displayed over 650,000 UK residential property listings.

The Company's UK property stock is now over 83% of Zoopla's¹ and approximately 65% of Rightmove's.²

The number of instant property alert emails sent by OnTheMarket during May reached in excess of 100 million.

To place this milestone in context, in its 2018 results announcement, Rightmove stated that it had sent 781 million instant alert emails in the year.

Ian Springett, Chief Executive Officer of OnTheMarket.com, said: "Our May performance is further evidence that our growth strategy is working. We have delivered another set of record-breaking traffic and leads results for our estate and letting agent customers, many of whom are choosing to list their properties on a 'New & exclusive' basis. This is driving traffic to our portal while injecting competition into a market which was previously a 'duopoly'.

"The high volume of instant alert emails now being sent each month shows how our engagement with active property-seekers and the value we deliver to agents are both continuing to grow strongly."

¹As at 3 June 2019, Zoopla stated on its website that it was listing 562,144 UK residential sales properties and 225,592 UK residential lettings properties, totalling 787,736 properties - down from 822,250 as at 3 July 2018.

²Rightmove, in its 2018 Annual Report, stated that it had "1 million UK residential properties".

ENDS

For further information, please contact:

OnTheMarket Ian Springett, CEO Clive Beattie, CFO	0207 930 0777
TB Cardew (Financial PR adviser) Ed Orlebar Lucas Bramwell	0207 930 0777 / [e-mail] 07738 724 630 07939 694 437
Zeus Capital (Nominated Adviser/Joint Broker) Martin Green, Pippa Hamnett, Jamie Peel (Corporate Finance) Benjamin Robertson, John Goold (Broking)    Shore Capital (Joint Broker) Daniel Harris, Rose Ramsden	0203 829 5000 0207 601 6100

Background on OnTheMarket:

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is the third biggest UK residential property portal provider in terms of traffic. It aims to deliver a market-leading, agent-backed alternative to Rightmove and Zoopla, offering a first-class service to agents at sustainably fair prices and becoming the go-to portal for serious property-seekers.

OnTheMarket plc was admitted to AIM in February 2018 with £30 million in new capital in order to support a new growth strategy for the business.

As at 4 June 2019, OnTheMarket.com had over one million people using its property alert service. To place this milestone in context, in its 2018 results announcement, Rightmove stated that 'over two million people' had received property alerts from it during the year.

At its IPO in February 2018, OnTheMarket was 70% owned by over two thousand agent firms.

With backing from its agent owners, OnTheMarket has developed unique sources of competitive advantage such as the thousands of "New & exclusive" property listings it receives every month from its agents to display 24 hours or more before they are on Rightmove or Zoopla.

*Visits comprise individual sessions on OnTheMarket.com's web based portal or mobile applications by users for the period indicated as measured by Google Analytics. Data for leads generated is reported from the Company's operating systems.

 

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