Property Blog and News / 2024 for OnTheMarket

2024 for OnTheMarket

17 December 2024

Author

President

As we reach the end of 2024 and start to look ahead to 2025, I wanted to reflect on the past year for OnTheMarket. Since our acquisition by CoStar Group, we’ve made incredible progress on our mission to become the UK’s number one property portal, we’ve had a chance to meet many of you along the way and we can’t wait to continue this into 2025. Below are some of the highlights of 2024.

Marketing spend

Even before the acquisition, CoStar Group announced our intended marketing budget – £45.6million, three times higher than Rightmove.

Our investment has delivered exceptional results. As of Q3 2024, website traffic has increased by an impressive 82% year-over-year, with unique visitors up 135% and leads rising 69%. In September 2024, for the first time, our site traffic surpassed Zoopla’s. Additionally, we’ve seen a 43% increase in total stock on the site and a 26% growth in listing estate agents. With these remarkable achievements in just 12 months, we’re excited to see what our continued investment will achieve in the coming year.

Roadshows

One of my personal favourite parts of this year has been getting on the road and meeting so many of our customers. This year, we’ve completed over 35 roadshows, up and down the country, meeting over 1,500 of you. These events enabled us to explain our mission and how we will achieve our goals. We were also able to listen to your questions, taking on board your needs to ensure that we continue to deliver the best possible experience to our customers. The feedback we’ve received has been incredible and we will continue with our travels next year so keep an eye out for a date near you!

Improving consumer convenience

One of the big updates to our website this year has been the consumer search experience. We’ve made our site as user-friendly as possible, removing all third-party advertising so that your properties gain even more exposure. We’re the only portal with a default map search to make it easier for property seekers to see the properties most relevant to their search. We have redesigned our app to reflect many of the website changes as well as streamlining and making it easier for consumers to contact you. In 2025, we hope to bring many additional features to the site.

Levelling the playing field

This year has seen a shake-up in the way we determine the price points for our product packages, while remaining committed to fair and sustainable pricing. This new pricing model allows us to charge fairly for our services, at a fraction of the cost of our competitors.

EA Masters

Always a highlight, this year’s EA Masters was a great success. We were able to meet over a thousand agents, suppliers and others from the industry. I thoroughly enjoyed kicking the day off by outlining our mission and future plans to the audience and answering your questions throughout the day. It was an honour to help present some of the awards in the evening. Thank you to the Property Academy team once again and we look forward to returning next year.

Thank you

Finally, I want to say a huge thank you to each and every one of you who worked with us, visited us at one of our roadshows, came and joined us for a drink at EA Masters or gave us feedback and continued to support us this year. We wouldn’t be where we are now without your encouragement, and we can’t wait to work with you to achieve even more next year.

Marketing spend being 3x Rightmove’s 2023 full year marketing budget.

OnTheMarket uplifts comparing Q3 2023 to Q3 2024. Website visits and Visitors source: Google Analytics.

Surpassing Zoopla’s visits: Zoopla has reported a monthly audience of 47 million sessions. OnTheMarket had over 56 million sessions in September 2024, according to Google Analytics.