Data revealed by OnTheMarket shows that it is listing more high-end homes worth £3m or more in London and the home counties than both ZPG portals combined, Zoopla and PrimeLocation.
It has also overtaken Rightmove in terms of the number of listings at this value in some key London postcodes.
Outside London, OTM data shows it is listing more homes at £1m-plus than the ZPG portals in a number of areas, including Yorkshire, Lancashire, Somerset and Norfolk.
The news comes as OTM applied to the London Stock Exchange to allow more shares to be traded – altogether, 757,203 new ordinary shares, issued to certain new agents in return for signing long-term listing agreements. Following admission, the total number of ordinary shares and voting rights in the company will be 61,290,521.
As the number of agents using OTM grows – it now reckons to have 45% of the agency market listing with it – so has the inventory, with OTM highlighting growth in the upper price brackets.
In London’s W1, for properties worth £3m and more, OTM lists 237 properties, Rightmove lists 308 and Zoopla/PrimeLocation list 174 (all figures correct as at last Thursday).
In NW3 (Hampstead), OTM has the most available sales properties across the three portals for properties worth £3m or more.
Here, OTM lists 122 properties for sale, Rightmove lists 91 and Zoopla/PrimeLocation list 105.
In NW8 (St John’s Wood), OTM also has the greatest number of listings for homes worth £3m or more. It has 152 properties for sale, Rightmove lists 150 and Zoopla/PrimeLocation has 122.
In the home counties, OTM lists more than double the property stock of Zoopla/PrimeLocation for homes worth £3m or more.
And in specific wider country markets such as Hampshire, Yorkshire, Lincolnshire, Somerset, Devon and Cornwall, OTM outpaces Zoopla/PrimeLocation for properties worth £1m or more.
OTM launched in 2015, Rightmove in 2000 and Zoopla in 2008. PrimeLocation was launched in 2001.
Noel Flint, head of London Residential at Knight Frank, said: “These figures demonstrate the strength that OTM 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 OTM up to 48 hours before Rightmove.
“There are many other agents across the country who have chosen to support OTM 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: “OTM has gained significant market coverage in Yorkshire since its launch three years ago.
“We are delighted to see it performing so well here, especially in the £1m 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 OTM, said: “This latest data is a further demonstration of the rapid progress we have made in the UK’s property portal market.
“OTM continues to gain ground at all price points across the country as more and more agents recognise the benefits of an agent-backed portal.”
The comparative property stock numbers in the press release are based on a search for properties for sale in postcodes or counties shown below on May 31. All figures quoted are available sales properties and exclude SSTC.
|Portal comparison: Thursday, May 31st 2018|
|£3million and over (sales)|
|£3million and over (sales)|
|£1million and over (sales)|
|Wider country areas||OnTheMarket.com||Rightmove||Zoopla/PrimeLocation|