Purplebricks Group PLC Australian roll-out continues with Sydney launch
January 16 2017 - 8:30AM
RNS Non-Regulatory
TIDMPURP
Purplebricks Group PLC
16 January 2017
16 January 2017
Australian roll-out continues with Sydney launch
Purplebricks Group plc ('Purplebricks' or 'the Company'), the
leading hybrid estate agency providing a new way to sell, buy or
let property, today announces that it has expanded its targeted
roll-out across Australia, with the launch into Sydney, and New
South Wales. Plans are now progressing for the launch of Perth and
Adelaide.
Momentum in Australia, a real estate market worth some
GBP3.3bn(1) , continues to build and track ahead of the UK at the
same point in its evolution, with hundreds of homeowners now
choosing Purplebricks to sell their home each and every month.
Commentating on the news, Michael Bruce, CEO, said:
"In such a short time, we have delivered an estimated $1.7m in
savings back to sellers and received some incredible reviews and
feedback, which speaks volumes about the Australian public's
interest in the Purplebricks offering. Our 24/7 hybrid model means
that we were even selling homes in Australia on Christmas Day and
Boxing Day, much to the delight of our customers.
"We are confident that our proven success in auction and private
treaty sales in the country is setting us apart from traditional
real estate offerings and will make a substantial and positive
difference for homeowners across Australia. Purplebricks is now
operating in Melbourne, Brisbane, the Gold Coast and the Sunshine
Coast, Sydney and parts of the Central Coast, with plans underway
for extension into Perth and Adelaide."
*1 Source - IBIS Real Estate Services in Australia Industry
Report
Enquiries:
Instinctif Partners +44 (0) 20 7457 2020
David Simonson, Mark purplebricks@instinctif.com
Reed
Notes to Editors
Purplebricks, established in April 2014 by co-founders Michael
and Kenny Bruce, is the leading next generation estate agency in
the UK, combining highly experienced and professional Local
Property Experts and an innovative use of technology to help make
the process of selling, buying or letting so much more convenient,
transparent and cost effective. Purplebricks is transforming the
way people perceive estate agents and estate agency.
Unlike traditional agents, where customers only pay upon the
sale of the property, which effectively means that those that do
sell pay more in order to cover the costs of those that do not
sell, Purplebricks believes it is more equitable that everyone
should pay, charging a flat fee at instruction. This helps to avoid
the industry issue of timewasters and those that are merely
'testing the water' and underpins the low, flat fee model.
Purplebricks listed on the Alternative Investment Market (AIM)
of the London Stock Exchange in December 2015, raising GBP25.0m of
growth capital before listing costs at 100p per share.
This information is provided by RNS
The company news service from the London Stock Exchange
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