Purplebricks is making plenty of noise but what about the other online estate agents?
Purplebricks (AIM:PURP) describes itself as a “hybrid online estate agent”, it has certainly been splitting opinion over the past few weeks with some mixed press to go with the stratospheric valuation. It seemed like a good time for us to assess the online market place and see who else investors should be looking at.
Purplebricks (AIM:PURP) it is an amalgamation of both online and traditional high street agents. The Group listed on the AIM in December 2015 at 93p per share and less than 2 years later, it has seen a meteoric rise to approx. 381p, at the time of writing, having risen to over 500p at the beginning of July. This represents a whopping 419% increase in the share price. But why do investors have such confidence in this group’s ability to disrupt such a huge well-established market? Consumer habits are changing in every sector, more people than ever are looking online at…