Hybrid and online estate agents increased their overall market share slightly during the third quarter of this year, with companies typically attracting lower value properties, fresh figures reveal.

The market share of hybrid and online estate agents overall was 7.6% in Q3 2022, a modest increase since the previous quarter, but still down from the peak of 8% experienced during the pandemic.

Purplebricks, Yopa and Strike are still the dominant brands in this area of the estate agency sector.

The largest market for hybrid and online agents remains lower-value properties with market share rising to 9.4% in the less than £200,000 category.

However, the research also shows that while hybrid and online agents are relatively popular with vendor selling properties at the lower end of the market, the same cannot be said for more expensive homes.

According to TwentyCi, market share in the £1m+ bracket has dropped to an all-time low of 1.2%.