Zoopla has reported a pre-tax loss in its latest financial results, further widening the gap between the property portal and industry leader Rightmove.
The Silverlake-backed firm continues to grapple with what it calls “challenging market conditions,” including the need to write down the value of Yourkeys – a platform acquired four years ago to support property developers.
The company did not disclose how many estate agents currently pay to list on its platform but claimed its customer base “remained broadly stable” over the past year.
Despite this, annual revenue fell by 7% to £84.17m, down from £90.45m in 2023. Zoopla attributed the drop to what it described as a “rationalised product set,” following the decision to phase out certain legacy advertising offerings.
Chief executive Paul Whitehead has led the shift away from older advertising models as the company refocuses on its core platform and developer services in an increasingly competitive market.
“They generated a bit of revenue, but they weren’t good for consumers or customers,” he said. “Difficult decision, always, but it’s allowed us to concentrate on being a core marketplace.”
He added that the performance of the remaining business “was pretty resilient” in spite of what he described as “challenging market conditions” and the internal streamlining he was overseeing.
But Zoopla still made a pre-tax loss of £5.17m in the 12 months to the end of December 2024, compared with a pre-tax profit of £18.79m the previous year.
The fall into the red was a consequence of a £19.5m writedown of the value of Yourkeys, which was acquired in 2021 and helps developers to manage their reservations and sales. “The writedown relates to a shift in strategic priorities to other brands and initiatives,” Zoopla said.
The accounts demonstrate how far Zoopla has fallen behind Rightmove, which generated more than double portal’s annual revenue in the first six months of 2025 alone.
Sky News reported last week that Silver Lake Partners has hired two investment banks to launch a review of strategic options for the assets which sit within holding company ZPG, amid growing speculation that Zoopla and other key assets which sit within holding company ZPG could be sold.
Zoopla says ‘it’s business as usual’ amid latest sale speculation
It’s a pity Agents dont have the guts to leave RM its a shame rally when Zoopla fees are less than a third of RM yes Agents are willing to pay a premium for the same if not less of a service.
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Now it makes sense why we received an email from Zoopla increasing our monthly fee last week. I will be calling them this morning, saying we will not be paying it.
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The Zoopla group have enough products and services to come up with a compelling and complete solution for agents.
They could include a cut down version of either Jupix, Alto or Expert agent with enough functionality for content and client management within the portal costs.
There was a recent PIE article about agents not using all the features within their chosen CRM. So why not offer what agents tend to use?
There will be an initial hit on CRM revenues that could be countered in an uplift of portal subscriptions. Full versions of the various CRM options would still be available for those who want to pay for added functionality.
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The issue with Zoopla Group’s CRMs is that they don’t allow delayed feeds into their own portal and place restrictions on other portals. It almost feels like they’re trying to compete and lose against them—a possible hangover from the old OTM vs Zoopla rivalry.
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And so the Rightmove monopoly gets even stronger.
Ouch!
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Not sure how that is possible! Can anyone else smell fish?
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Zoopla just need to make their website user friendly and take away the adverts and pop ups. Too many little brands all over the place and tie in contracts and option to renew annoys agents and eventually move away.
The Rightmove customer service on the phone is spot on. Zoopla expect everyhing to be done via online chat and never get a proper answer – they should start with customer service for estate agents if they really want to take on Rightmove.
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