16:46 PM, 8th March 2012, About 10 years ago
Landlords and letting agents could see Rightmove’s crown slip in the rental market as a new pretender steps up – if a proposed merger is allowed to go ahead.
Digital Property Group – owned by the company behind the Daily Mail – and Zoopla want to join forces to tackle the undisputed property portal king Rightmove head on.
The proposal is currently under review by the Office of Fair Trading, which has delayed a promised March 1 decision.
After years of expensive advertising and promotion, they remain firmly planted as a distant second behind the dominating Rightmove.
The merger would tilt the balance in their favour by taking away the advantage Rightmove has is in the market.
After a merger, Rightmove would remain slightly ahead in property sales, but the new group would nudge ahead on lettings, according to independent property analysts Home.
“Taking a look across sales agencies, we estimate that Rightmove covers 76% of agent offices, FindaProperty 61% and Zoopla 39%,” said Doug Shephard, of search analysts Home.
“FindaProperty and Zoopla combined would cover 71%. However, if we add in the lesser-known Mouseprice, it’s neck and neck with DPG’s overall percentage of sales offices coming out at 75%.
“The booming rental market on the other hand presents a different story. Rightmove covers 68% of letting agent offices, FindaProperty 62% and Zoopla 41%. FindaProperty and Zoopla combined would cover 73%. Add in Mouseprice and the TPPG letting-agent share reaches a Rightmove-busting 78%.
“Our assessment of the likely impact of the proposed merger suggests that Rightmove would be knocked into second place by the superior market presence of the Digital Property Group and Zoopla in the rentals sector.”
“Should the merger go ahead, Rightmove would be expected to fight back by attempting to increase their share of rentals. This potential battle of the giants should lead to price competition, which would help reduce the costs of both selling and letting.”
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Previous ArticleLandlords safe from Bank of Ireland mortgage rate hike for now
Next ArticleVital Contacts for LHA Landlords
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|