Purplebricks is now the largest agent in the UK by listings on Rightmove, broker Zeus Capital has said.
The claim has been made by Zeus Capital research director Robin Savage.
Savage also said that Purplebricks’ growth has been “at the cost of its competitors who are not terribly happy”.
He said that next spring Purplebricks will take more share of the market, and in the UK will make EBITDA profits of £15m during the current financial year, rising to £30m next year and £45m the year after that.
Savage said that the customer experience of Purplebricks has been overwhelmingly positive.
He said: “There made be the odd detractor who has difficulty selling their home for particular reasons – but there are considerably more happy customers than there are unhappy ones”.
Zeus Capital is broker to Purplebricks and advised it on its successful stock market launch. Zeus Capital is also advising OnTheMarket on its own IPO.
An interview with Savage can be heard here: https://www.directorstalkinterviews.com/interview-purplebricks-group-plc-interesting-time-investors/412737330
Meanwhile, easyProperty has said that its own diminishing stock on Rightmove is due to the fact that these are legacy properties being handled centrally and not by its licensees. But yesterday easyProperty boss Jon Cooke admitted that he does not know what the firm’s current national inventory actually is. See next story.