We recently announced that we have achieved major progress against a number of key operational performance metrics since our acquisition by CoStar Group, a leading provider of commercial real estate information, analytics and online marketplaces, back in December last year.
Highlights include:
- Unique monthly visitors up 81% on prior year*
- Total monthly leads to agents up 81% since acquisition**
- Over 1,000 agents and 57,000 listings added since acquisition**
*increase calculated comparing January 2023 vs January 2024 according to Google Analytics.
**increases calculated over first 60 days since CoStar acquisition to 18 February 2024 according to Google Analytics.
Our agent office count has also increased by 10% since the CoStar acquisition**, with over 14,000 advertisers now listing on the OnTheMarket site. The upturn follows the implementation of a new sales and marketing program in December, after CoStar stated its intention to spend £46.5 million in the first year of a multi-year investment initiative totalling hundreds of millions of pounds.
Jason Tebb, President of OnTheMarket, comments: “As these results show, we are making tremendous progress with our strategy of becoming the leading agent-friendly platform in the UK residential marketplace. We believe that we are now the fastest growing residential portal in the UK In a very small space of time following the acquisition of the business, we have initiated the first phase of a multiyear program to drive consumers to OnTheMarket which will significantly increase the quality of valuable leads to our agents at fair and sustainable prices.
“We believe we can create the number one property portal in the UK, leveraging CoStar Group’s expertise and resources. With the successes of Apartments.com and Homes.com, we have a proven playbook to follow, which perfectly complements our knowledge of the UK market and our differentiated product.”
