City investment consultancy Credit Suisse is sceptical that the claims actually constitute progress for the challenger portal.
Credit Suisse has told investors that: “5,400 members is in line with recent unofficial estimates we have heard from the market and is in-line with our expectations. We believe it shows that growth in contractual membership has all but dried up. In March 2015 the site had 5,000 members - meaning the group has added 400 contractual members in around eight months, that is 50 per month. “
It goes on: “With this likely front-end loaded and aided by market growth, we believe that net movement of agents between ZPG and OTM is now likely flat .”
The consultancy is scathing in its description of the non-binding letters of intent as “a publicity stunt”
It also says that data from digital analytics company Comscore suggests that OTM has around nine per cent of the monthly unique audience of Zoopla and and eight per cent of its daily audience.
Zoopla has also claimed 7m downloads ,milestone from the 'Apple Top Ten' apps.
Phil Spencer,brand ambassador for zoopla will soon be helping the government get more first time buyers, onto the housing ladder. Over the coming months, a series of online videos including ‘how to’ programmes, giving simple tips, to potential home buyers.
Further Reading
zoopla.co.uk and rightmove.co.uk primelocation.com subscriptions can be justified
Homes builders conclude zoopla.co.uk primelocation.com and rightmove.co.uk have strong value
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