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OTM overtakes Rightmove and Zoopla in prime London areas

Monday 04 June 2018

Data released by OnTheMarket shows that it is now listing more high-end homes for sale than Zoopla and PrimeLocation, and has overtaken Rightmove in terms of the number of pricey listings in some high-value London postcodes.

The stats, which were realeased today, reveal the online portal now has more properties for sale worth £3 million or more than both ZPG portals (Zoopla and PrimeLocation), and claims to have surpassed Rightmove in terms of the number of listings worth £3 million or more in several prime London areas.

For properties worth £3 million and more in London’s NW3 (Hampstead), OnTheMarket currently lists 122 properties, Rightmove has 91 and Zoopla/PrimeLocation lists 105. OnTheMarket also has the greatest number of listings for high-priced pads in NW8 (St John’s Wood) with 152 properties in excess of £3 million for sale. Rightmove lists 150 and Zoopla/PrimeLocation has 122 for the same area.

Outside of London, OnTheMarket data shows it is listing more homes at £1 million plus than both the ZPG portals in a number of areas, including Yorkshire, Lancashire, Somerset and Norfolk. 

Noel Flint, Head of London Residential at Knight Frank, said: “These figures demonstrate the strength that OnTheMarket has gathered, despite it being the youngest player among the UK’s three biggest portals. None of Knight Frank’s properties can be found on Zoopla/PrimeLocation and we have a general policy of launching new properties at OnTheMarket.com up to 48 hours before Rightmove. And there are many other agents across the country who have chosen to support OnTheMarket.com in the same way. Importantly, this is a clear demonstration of exactly why the most active property-seekers need to search the portal if they are looking for a new home.”

Patrick McCutcheon, Head of Residential at Dacre, Son & Hartley, a 20 plus branch firm based in Yorkshire, said: "OnTheMarket.com has gained significant market coverage in Yorkshire since its launch three years ago and we are delighted to see it performing so well here, especially in the £1 million and above market where it has overtaken Zoopla/PrimeLocation in terms of the number of listings for this particular market segment."

Ian Springett, Chief Executive Officer of OnTheMarket.com, said: “This latest data is a further demonstration of the rapid progress OnTheMarket has made in the UK’s property portal market. OnTheMarket continues to gain ground at all price points across the country as more and more agents recognise the benefits of an agent-backed portal.”

OnTheMarket announced last month that as of 25 May, it had signed listing agreements with UK estate and letting agents with more than 8,500 offices. This was an increase of over 3,000 branches since Admission on 9 February, representing growth of more than 54 per cent in less than four months. The number of agents now believed to have listing agreements with OnTheMarket equates to approximately 45 per cent of UK residential estate and letting agency branches.