OnTheMarket plc OTM rental listings now on Facebook Marketplace
September 05 2018 - 9:00AM
RNS Non-Regulatory
TIDMOTMP
OnTheMarket plc
05 September 2018
5 September 2018
OnTheMarket announces that its UK residential rental listings
will now be available to view on Facebook Marketplace
OnTheMarket plc, the agent-backed company which operates the
OnTheMarket.com property portal, announces today that its UK
agents' home rental property listings are now available to view on
Facebook Marketplace.
Following the success of Marketplace's property for rent
offering in the US, Facebook has launched a similar experience for
UK property-seekers who will be able to find the OnTheMarket
listings of tens of thousands of its agents' UK current properties
to rent on Marketplace.
As of today, people on-the-go can search Marketplace and will be
able to filter by property type, price range and bedrooms to browse
the rental listings provided by OnTheMarket.com.
John Milsom, Brand Director of OnTheMarket plc, says:
"We are excited to be working with Facebook Marketplace and to
be a listing partner. OnTheMarket is the UK's agent-backed property
portal with a mission to connect active property-seekers with its
property-advertising agent customers. We believe the quality of
OnTheMarket agents' property content integrated with the
considerable scale and reach of Facebook Marketplace's brand and
service is a perfect fit.
"Today, people can search Facebook Marketplace in the UK and
connect with our agents, who update their listings data frequently
to ensure accurate availability and pricing. We look forward to
working with Marketplace to create world-class value for
property-seekers and value for both of our businesses.
"OnTheMarket plc was admitted to AIM on 9 February and by 22
August we had increased the number of contracted UK agent offices
from 5,500 to more than 10,500. As at 4 September, OnTheMarket now
carries more than 600,000 UK residential property listings which is
approximately 60% of the stock listed on Rightmove and
approximately 75% of the stock listed on Zoopla. Within their
stock, Rightmove and Zoopla have substantial numbers of properties
listed with them direct by new homes developers which is a customer
group OnTheMarket has yet to address.
"Momentum is strong and the Facebook Marketplace integration is
another example of how we shall be increasing the exposure of our
agents' properties. We expect agents will be attracted to
OnTheMarket to showcase their rental properties with us on
Marketplace as well as on our own portal."
The goal of Marketplace is to connect people through commerce.
More than 800 million people globally each month come to Facebook
Marketplace to buy and sell things (as at April 2018).
In the UK, a total of 40 million people access Facebook every
month. 37 million people access Facebook every month on mobile and
30 million people every day (as at Q3, 2018).
ENDS
For further information, please contact:
TB Cardew (Financial PR adviser) 0207 930 0777 / onthemarket@tbcardew.com
Ed Orlebar 07738 724 630
Tom Allison 07789 998 020
Background about OnTheMarket:
Launched in January 2015, the OnTheMarket.com property portal
was created by Agents' Mutual Limited, a company limited by
guarantee and founded in January 2013 by a small group of agent
firms, with the objective of creating a new portal to challenge the
dominance of Rightmove and Zoopla. Both groups were felt to be
using their strong positions relative to their agent customers to
impose significant price increases for their portal services.
The Agents' Mutual proposition of an agent-backed portal
offering a premier search service to consumers whilst charging fair
prices to agents quickly found support among a very wide group of
leading independent agents across the UK. These firms funded the
venture by way of loan note subscriptions and committed to list
with the portal once it went live.
OnTheMarket is the third biggest UK residential property portal
provider in terms of traffic.
OnTheMarket plc was admitted to AIM on Friday 9 February 2018
alongside a capital raise of GBP30 million to support a new growth
strategy for the business.
Background about the UK private rentals market:
The UK has a very active and growing residential property
lettings market, with an estimated annual number of 2.4 million
letting transactions.
Private rentals accounted for 19.9 per cent. of all households
in 2015/16 in England & Wales, up from 11.7 per cent. in 2005.
(Source: DCLG English Housing Survey, trends in tenure).
Over the past 6 years, average private rental prices have
trended upwards: between January 2011 and November 2017, private
rental prices in Great Britain have seen steady growth, increasing
by 15.4 per cent. This rental price inflation has principally been
due to the growth in renting by 20-39 year olds - a major cultural
shift which has resulted from both choice and the shortage of
affordable properties for sale. Since 2000, the share of 20-39 year
olds who rent privately has more than doubled from 20 to 50 per
cent.
Analysis published by accountancy firm PwC suggests that by
2025, 7.2 million households will be in rented accommodation,
compared with 5.4 million in 2015 and 2.3 million in 2001.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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