Online agents’ market share slipped towards the end of last month.
The top ten online firms accounted for just 3.8% of all new properties listed in the 14 days to last Friday.
Purplebricks’ share of the online sector nudged up to just over 70%, while Housesimple and Yopa tied for second place.
There was good news for all estate agents, as stock levels increased.
The Advisory’s latest research shows that 3,971 more properties were brought to the overall market in the fortnight to last Friday than in the previous 14-day period.
Altogether, 98,739 homes were brought to the market in the 14-day period, up from 94,768.
Purplebricks had 2,618 new listings – miles ahead of its nearest two online competitors, with 396 each – but including an “unquantifiable number of properties back from a marketing break”, according to The Advisory.
easyProperty was bottom of the top ten, bringing just 12 properties to the market.
Gavin Brazg, founder and CEO of The Advisory, said: “Reports of the death of high street estate agency have been greatly exaggerated.
“For all the promises of disruption, and all the money spent, the top ten players in the online estate agency sector have only managed to amass a paltry 3.8% market share.
“If the sector were a house it would be a money pit.
“With this current market share, I can’t see many high street estate agents lying awake at night petrified they’re about to experience their very own ‘uber’ or ‘Amazon’ moment.
“Despite their eye-watering marketing spend, Purplebricks new listings seem to have remained broadly in-sync with the market as a whole.
“Our independent analysis seems to show they are not outperforming the market, and so it’s hard to see how they’re going to grow the company to take double digit market share.”
The full report is here: