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OnTheMarket and Persimmon Plc sign agreement

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RNS Number : 0314T
OnTheMarket plc
12 November 2019
 

None of the information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, nor does it contain any information that is required to be announced via a Regulatory Information Service under the AIM Rules for Companies.

 

12 November 2019

Persimmon Plc and OnTheMarket sign listing agreement

Persimmon Plc to list its properties at OnTheMarket as portal broadens its property advertiser base

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, announces today that it has signed a listing agreement with Persimmon Plc, one of the UK's leading house builders.

Under the agreement, which covers listing and additional advertising products, Persimmon Plc will list all its residential developments at OnTheMarket from both its Persimmon and Charles Church consumer brands.

Persimmon Plc sold 16,449 new homes in 2018. The Company provides a wide variety of homes at a range of price points in over 350 locations across the UK, with a focus on first-time buyers and first-time movers.

Helen Whiteley, Commercial Director of OnTheMarket, said:

"In addition to growing our agent base, a key objective for OnTheMarket is broadening our property advertiser base, with new homes developers a priority focus.

"I am delighted that Persimmon Plc, one of the UK's largest house builders, has decided to join us now, raising the number of listing developments on the portal to 733.  

"Persimmon is a highly successful business with wide geographic reach. It builds a broad range of properties and is committed to supporting the sustainable growth in new home construction that the country needs.

"Following the agreement with Barratt Developments PLC which we announced in September, this latest agreement further broadens our advertiser base and increases our relevance to active buyers in the market, while addressing the opportunities in the new homes market."

Mark Cook, Group Sales and Regional Managing Director of Persimmon, said:

"We are delighted to be joining OnTheMarket. We have watched the portal gain ground and gather momentum to become a major player in the portals market, with active backing from property professionals.

"We look forward to developing a mutually beneficial partnership with OnTheMarket to find new and motivated buyers from this additional marketing channel."

ENDS

For further information, please contact:

TB Cardew (Financial PR adviser)

Ed Orlebar

Alycia MacAskill

0207 930 0777 / [email protected]

07738 724 630

07876 222 703

 

Background on OnTheMarket:

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is the third biggest UK residential property portal provider in terms of traffic.

It aims to deliver a market-leading, agent-backed alternative to Rightmove and Zoopla, offering a first-class service to agents at sustainably fair prices and becoming the go-to portal for serious property-seekers.

OnTheMarket plc was admitted to AIM in February 2018 with £30 million in new capital in order to support a new growth strategy for the business.

As at 30 September 2019, OnTheMarket had listing agreements with agent firms with over 12,600 branches and with several house builders in addition to Barratt Developments. UK residential property listings had already reached 641,672.

In September 2019, traffic to OnTheMarket.com reached a new monthly record of 27.2 million visits*. As an indication of strongly increasing consumer engagement with OnTheMarket.com, almost 1.2 million people were using the portal's property alerts service as at 30 September 2019. OnTheMarket sends over 100 million instant alert emails a month.

At its IPO, OnTheMarket was 70% owned by over two thousand agent firms. Following the share issuance arising from its growth in contracts, over 3,000 agent firms operating more than 6,000 UK agency branches will be OnTheMarket shareholders.

With backing from its agent owners, OnTheMarket has developed unique sources of competitive advantage such as the thousands of "New & exclusive" property listings it receives every month from its agents to display 24 hours or more before they are on Rightmove or Zoopla.

*Visits comprise individual sessions on OnTheMarket's web-based portal or mobile applications by users for the period indicated as measured by Google Analytics.

 

 


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 [email protected] or visit www.rns.com.
 
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