12th Aug 2015 06:39
LONDON (Alliance News) - Zoopla Property Group PLC on Wednesday said its UK estate agency membership returned to growth in the first four months of its current financial year and said the uSwitch price comparison business it acquired earlier in 2015 is trading well.
The FTSE 250-listed property portal, which competes with Rightmove PLC and which has recently faced the launch of a new player in the form of agency-back OnTheMarket, said it added 213 net new branches to its UK agency membership in the period from April 1 to July 31, returning to growth after having taken a hit from the launch of OnTheMarket.
Zoopla said it was encouraged by the reduction in churn and a return to growth in the UK business, along with the strong performance of its members, which continued to grow listings. Listings inventory was up by 7% in the period to 882,000 from 828,000, with traffic to its platform remaining strong.
The group added the uSwitch price comparison business has continued to trade well since being acquired, with a particular boost from the energy switching market and a supportive regulatory environment for the energy business.
"We are very pleased that over the past few months of trading we have returned to growth in our number of UK Agency members. Our huge audience of property-interested consumers remains loyal and engaged and our members are enjoying strong performance and a competitive advantage in terms of both brand exposure and leads generated via our platform," said Chief Executive Alex Chesterman.
By Sam Unsted; [email protected]; @SamUAtAlliance
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