OnTheMarket enjoys record traffic in January

Property website OnTheMarket saw traffic to its portal exceed 23.5m hits in January, a new monthly record.

OnTheMarket said the 400% uptick in visits since its admission to AIM back in February 2018 was driven by its investment into "heavyweight national multi-channel advertising".

The estate agent-backed portal, which now displays over 600,000 UK residential listings, said the growth in both property stock and visits had also combined to produce record levels of leads generated for OnTheMarket's estate and lettings agent customers - delivering more than seven times as many phone and email leads as it had eleven months earlier.

Chief executive Ian Springett said: "In less than a year since our IPO we have significantly reduced the gap in property listings between our portal and Rightmove and Zoopla and have dramatically increased the number of visits made to it."

"These achievements have produced strong network effects, manifested by the very substantial numbers of leads we are now delivering to our agent customers."

As of 1045 GMT, OTM shares had picked up 4.84% to 97.50p.