An article in Investors’ Chronicle says the dominance of Rightmove and ZPG in the portal market could be under threat from OnTheMarket.
The article points out that back in 2001, Rightmove’s average rent per advertiser was £100 per office per month – last year the figure was £922, giving a compound annual growth rate of 14 per cent.
OnTheMarket plc (LON:OTMP) is the UK’s leading agent-controlled online residential property search service operator. The core proposition of the business, initially as Agents’ Mutual and now as OnTheMarket plc, is to provide with its OnTheMarket.com portal a strong agent-controlled challenger and alternative business and brand to the two major incumbent portals, Rightmove and Zoopla, for agents and consumers alike.