Weather New York, NY +84°F

Regions

Zoopla sets new record as 58mln homebuyers visits in January 2016

Close
(Credit: Simon Dawson/Bloomberg via Getty Images) A Zoopla logo sits on the screen of an Apple Inc. iPhone near a row of residential houses in this arranged photograph taken in London, U.K, on Thursday, May 22, 2014. Zoopla Property Group, a unit of Daily Mail and General Trust Plc, plans to list on the London Stock Exchange, Daily Mail said, without giving financial details. Zoopla Property App As Real Estate Locator Plans IPO
February 26
4:26 AM 2016

Online estate agent Zoopla has attracted a record of 58 million visits by homebuyers in January 2016. Zoopla has been investing in strengthening its operations, while adopting latest technology applications to reach out to consumers. The British property website has posted better than forecast results for 2015. 

The trading update data for October 2015 and January 2016 has revealed an encouraging performance for Zoopla's prime location business and price comparison service. Zoopla offers price comparison service on real estate and house prices under uSwitch service. 

Alex Chesterman, founder and chief executive of Zoopla, said investments and advanced technology deployment helped the estate agent grow further, according to This is MONEY. DMG Media which is a parent company of Daily Mail owns 31.33 percent in Zoopla.

Zoopla is recording a steady growth in number of visitors to the portal. FTSE250 property portal recorded 47 million average monthly visits to its website and mobile app. These numbers were pertaining to November 2015 to January 2016. This was a five percent rise from the average rate for 2015. Meanwhile, Zoopla recorded 58 million visits to its website and app in January 2016.

Even after launching OnTheMarket.com, Zoopla has continued to attract more number of visitors to its website and app. OnTheMarket.com, allows partner agencies to list on either Zoopla or rival Rightmove. It restricted dual registrations on both the sites. Zoopla has increased its number of estate agency branches, with which it works, to 12,841 this year so far. It is upbeat on an encouraging beginning in 2016, as reported by Financial Times.

Zoopla sees growing number of agents registered with it. About 16,411 agents have been listed properties on Zoopla's websites. It also managed to attract some agents, who registered on rival OnTheMarket, back to its website and app.

Zoopla recorded 24 percent growth in profits for the second half of 2015. Pre-tax profits were at £52.9million and revenues rose nine percent to £1.18 billion. The real estate agent has also increased dividend by 18 percent for the half year ending December 2015.

Daily Magazine further adds that Zoopla also runs another property site 'PrimeLocation' in addition to uSwitch on price comparison. Zoopla announced better than expected earning numbers for 2015. Earnings rose 23 percent £48.7 million ($73 million) for 12 month period ending September 2015. 

However, the pre-tax profit for the entire 2015 fell 40 percent to £47.7 million, owing to bleak selling volume. Few people sold their homes during the year. The buying and selling of property was dropped by four percent in the UK market when compared with 2014. The uncertainty in the country ahead of general elections in May 2015 was the major factor for poor sales in the housing sector. 

Market experts predicted a rebound in the second half of 2015, but it didn't happen. Zoopla's final dividend was 10p a share for 2015.

© 2019 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics