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sancho panza

Online agents grow market share by 45% YoY to 8% of total

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And people wonder why Countrywide shares are going down

http://www.propertyindustryeye.com/online-agents-grow-market-share-to-8-of-all-exchanges-claims-new-report/

'Online agents have increased their market share, now representing almost 8% of all exchanges.

A new report, out this morning, says that online firms increased their market share by 13% between the first and second quarter of this year.

The TwentyCi Property and Homemover Report – cited in last week’s Purplebricks annual results and its national newspaper ads at the weekend – said that 15,986 sellers exchanged when listed with an online agent in the last quarter.

However, the number of exchanges remains tiny compared with the 192,653 by high street agents.

The report says that the growth has been driven by significant investment in advertising, and more local property experts.

There are major regional differences in online market share, but in all regions in England and Wales they have grown market share.

In Yorkshire and the Humber, online firms have grown market share, year on year, by 51.58%.

In inner London, their market share growth is 47.34%, and in Wales and the north-west it is almost the same story with market share growth at just over 45% in both regions.

In the east midlands and east of England, market share growth is around 44% and 43% respectively.

Annual market share growth stands at around 39% and 38% in the north-east and west midlands; at 33% in the south-west; at 23% in Greater London; and at some 17% in the south-east.

Today’s report does not specifically mention Purplebricks, or indeed name any agent.

Colin Bradshaw, TwentyCi’s chief customer officer, said: “The growth in market share for online agents continues unabated, with this group now representing nearly 8% of all exchanges.

“It is interesting to note that almost all of this growth has been in properties below £1m.

“Logic might dictate that a fixed-price service would be more attractive to sellers of higher-priced properties, but perhaps this group of vendors is motivated by factors other than just price.”

This morning’s report by no means confines itself to looking at online agents.

It also reports that new instructions are up 7% year on year. It also says that there is no significant price discounting on asking prices.

It does, however, find that in the second quarter of this year, exchanges were down in most regions, other than the north-east, Yorkshire and the Humber, and in Scotland.

The report also says that one third of all property listings in the second quarter were for rental homes. Almost 60% of property listings in London were for rental properties.

TwentyCi claims its quarterly housing reports are based on factual data covering 99.6% of both sales and rentals.

The full report, with plenty of regional information, is available at this link:

//cdn2.hubspot.net/hubfs/1756789/TwentyCi%20Property%20%20Homemover%20Report%20%20Q2%202018.pdf

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On 11/07/2018 at 14:31, sancho panza said:

And people wonder why Countrywide shares are going down

http://www.propertyindustryeye.com/online-agents-grow-market-share-to-8-of-all-exchanges-claims-new-report/

'Online agents have increased their market share, now representing almost 8% of all exchanges.

A new report, out this morning, says that online firms increased their market share by 13% between the first and second quarter of this year.

The TwentyCi Property and Homemover Report – cited in last week’s Purplebricks annual results and its national newspaper ads at the weekend – said that 15,986 sellers exchanged when listed with an online agent in the last quarter.

However, the number of exchanges remains tiny compared with the 192,653 by high street agents.

The report says that the growth has been driven by significant investment in advertising, and more local property experts.

There are major regional differences in online market share, but in all regions in England and Wales they have grown market share.

In Yorkshire and the Humber, online firms have grown market share, year on year, by 51.58%.

In inner London, their market share growth is 47.34%, and in Wales and the north-west it is almost the same story with market share growth at just over 45% in both regions.

In the east midlands and east of England, market share growth is around 44% and 43% respectively.

Annual market share growth stands at around 39% and 38% in the north-east and west midlands; at 33% in the south-west; at 23% in Greater London; and at some 17% in the south-east.

Today’s report does not specifically mention Purplebricks, or indeed name any agent.

Colin Bradshaw, TwentyCi’s chief customer officer, said: “The growth in market share for online agents continues unabated, with this group now representing nearly 8% of all exchanges.

“It is interesting to note that almost all of this growth has been in properties below £1m.

“Logic might dictate that a fixed-price service would be more attractive to sellers of higher-priced properties, but perhaps this group of vendors is motivated by factors other than just price.”

This morning’s report by no means confines itself to looking at online agents.

It also reports that new instructions are up 7% year on year. It also says that there is no significant price discounting on asking prices.

It does, however, find that in the second quarter of this year, exchanges were down in most regions, other than the north-east, Yorkshire and the Humber, and in Scotland.

The report also says that one third of all property listings in the second quarter were for rental homes. Almost 60% of property listings in London were for rental properties.

TwentyCi claims its quarterly housing reports are based on factual data covering 99.6% of both sales and rentals.

The full report, with plenty of regional information, is available at this link:

//cdn2.hubspot.net/hubfs/1756789/TwentyCi%20Property%20%20Homemover%20Report%20%20Q2%202018.pdf

Fuck CW share going - always was a piece of junk.

Youve an industry where the accepted norm has been ~2% commission on the sale of ~200k house - 4k/income.

Theyve been usurped/got the public to accept paying £500 up front instead.

So that a fall of 75% of cash (yes, there might be extra money to be made from idiot who want house listed that will never sell).

And a huge flll in the number of transaction too.

EAs will be blowing off tramps in the park for loose change.

 

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Posted (edited)

I've not seen it on the So-Called BBC but Countrywide are apparently asking shareholders for £100 to £125 million emergency cash call to stay afloat (well they call it reducing debt).

Good luck with that Cuntrywide.

Edited by Option5

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17 minutes ago, Option5 said:

I've not seen it on the So-Called BBC but Countrywide are apparently asking shareholders for £100 to £125 million emergency cash call to stay afloat (well they call it reducing debt).

Good luck with that Cuntrywide.

So people pay money to catch very sharp knives, and person owning the knife get free money. Certainly in keeping with UK capitalism.

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Countrywide shares down to 16.7 (did get as low as 10) .

The UK's largest estate agent group is seeking to raise a net of £111m of new equity at a price of 10p a share, compared with a price of 80p at Wednesday’s close. 

Countrywide's share price fell as low as 10p in early trading on the news, which came as the group revealed first half results. 

http://www.cityam.com/290152/countrywide-seeks-gbp140m-shore-up-balance-sheet

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6 hours ago, DoINeedOne said:

Countrywide Plc

LONDON: CWD.L (GBp)

 18.58p31.37 (62.80%)

 

 

had to look twice

I thought it was a misprint.

 

Just read up on it.Incredible fall from grace.

10 hours ago, Option5 said:

Countrywide shares down to 16.7 (did get as low as 10) .

The UK's largest estate agent group is seeking to raise a net of £111m of new equity at a price of 10p a share, compared with a price of 80p at Wednesday’s close. 

Countrywide's share price fell as low as 10p in early trading on the news, which came as the group revealed first half results. 

http://www.cityam.com/290152/countrywide-seeks-gbp140m-shore-up-balance-sheet

I can't see them getting this off the ground.Is it worth going long Purple Brix s CWD stop trading?

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12 hours ago, DoINeedOne said:

'Countrywide, the UK’s largest real-estate services group with over 10,000 employees in 900 locations, saw its shares plunge over 60% on Thursday after the company asked investors to pony up £140 million of emergency funds to save it from collapsing under the weight of its own debt. At one point the shares were down over 70%. On Friday they fell a further 14%.

In the last three months, the stock has crumbled 86%, from £1.10 a share in early May to £0.15 on Friday. The firm’s market cap has plunged to a paltry £37 million — little more than the average house price on Britain’s most expensive street, Kensington Palace Gardens in London.

In a statement to the stock market, Countrywide said its problems had been exacerbated by a flagging housing market, particularly in London.

The volume of transactions in London is down 20% over the last four years, according to Residential Analysts, who calculated the figure using Land Registry and HM Revenue & Customs data. According to the real estate agency Right Move, London prices slipped a further 0.5% in the month of July and are now 1.7% lower than this time last year.

In the worst-hit sector, one or two-bedroom properties, where first-time buyers are most active, prices fell 3.5% from a year ago.

Countrywide is reeling not just from the ill-effects of the UK’s sluggish housing market, but also from rising competition from no-frills online agencies. Online agents are driving down fees, making it increasingly difficult for high street operators to pay their overheads. The UK’s biggest online agency, Purplebricks, has a market cap over 20 times the size of Countrywide’s, and is aggressively expanding its operations into markets in the US, Canada, and Australia. '

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