Property: Increased traffic and profits for online search company Zoopla

Zoopla has reported record traffic levels on its websites during the six months to March 31. Zoopla has reported record traffic levels on its websites during the six months to March 31.

Tuesday, May 6, 2014
6:36 PM

Online property search firm Zoopla said today it achieved record levels of traffic across its sites in the first half of its financial year as the housing market continued to improve.

To send a link to this page to a friend, you must be logged in.

The company, which also includes the Primelocation, SmartNewHomes and HomesOverseas brands, and whose technology also powers Archant’s www.homes24.co.uk website, reported a 37% surge in traffic to its own sites during the six to March 31, with 39.9million average monthly visits.

Zoopla added that its profits rose 26% during the period to £18.7m, while revenues lifted by the same percentage to £38.3m.

There has been market speculation that Zoopla will be among the next property companies to go public, following Foxtons’ successful float last year. This could value the company at more than £1billion.

A float at around this price could net founder and chief executive Alex Chesterman, who started the firm seven years ago, a fortune of £100m.

Zoopla has benefited from rising house prices and transaction levels, as the improving property market has been buoyed by Government initiatives such as the Help to Buy scheme.

The company, majority owned by Daily Mail & General Trust, makes money by charging estate agents and other property firms subscription fees to advertise their listings across its sites.

Mr Chesterman said: “More and more consumers rely on our websites and mobile apps to both search for properties and research the market. We remain focused on building a sustainable and profitable business.”

0 comments

Comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Forgotten your password?

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

ADVERTISEMENT

ADVERTISEMENT

loading...

ADVERTISEMENT

ADVERTISEMENT