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Online agents increase market share to 7% in first quarter of this year, claim

Land Insight to 17 April NS

Online agents increased their market share by 11% in the first quarter of this year, and now make up 7% of the overall market.

Customer intelligence firm twentyci said that in the first quarter of this year, online agents were responsible for 14,846 exchanges, compared with 205,133 by bricks and mortar agents.

The firm described the increase in online agents’ activity as “a significant trend”.

Twentyci said that overall, property exchanges are up nearly 8% compared with the same period last year.

Year on year, exchanges were up in every region but with big fluctuations – by only 1% in the south-west, but by 18% in the north-east.

However, it has also only recorded a 1% increase in listings, suggesting that conversion rates have increased.

Year on year, the firm says average house prices have remained unchanged at £297,000, and says both supply and demand are still below the levels of the crash in 2008.

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Source:: Online agents increase market share to 7% in first quarter of this year, claim