Rightmove has ‘uncontested market leadership’ says City analyst
Thursday, November 12, 2015
Analysts at investment bank Liberum have reported that Rightmove has gained market share to stand at 82%, giving the portal “uncontested market leadership”.
By contrast, Liberum reports that market share for Zoopla, OnTheMarket and Primelocation has fallen.
It puts the market share of OnTheMarket and Primelocation at just about equal – although that particular chart only goes up to July.
However, it also reports on its latest survey of just over 1,000 people in October.
For the last seven quarters, Liberum has asked: “Which property portal do you use when searching for sales / lettings?”
A total of 53% said they would use Rightmove when looking for sales and 51% said they would use Rightmove when looking for lettings.
The report claims that both Zoopla and OTM have lost market share to “other property websites”.
Liberum concludes: “The cost of listing on property portals is very small for an estate agent as a percentage of revenues.
“We see little incentive for estate agents to leave the clear market leader as the shift to online sales continues.
“In short, we have seen Rightmove evolve into the UK property portal of choice.”
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