OnTheMarket adds more than 7,000 branches since AIM admission

Property search portal OnTheMarket said on Tuesday that it now has listing agreements with more than 12,500 agent branches, having added over 7,000 branches since its admission to AIM in February 2018.

The company said its sales team is continuing to see "encouragingly high" levels of agent support and conversion to signed contracts when it presents the opportunity of listing on an agent-backed portal.

Chief executive officer Ian Springett said: "We are currently running advertising campaigns across national television and radio which complement our sustained heavy investment in digital marketing. Alongside the rapid growth in agent branches listing, this sustained marketing activity is helping drive our visitor traffic and the combined effect is greatly increased lead generation for our customers.

"We are confident in our ability to deliver a market-leading, agent-backed alternative to Rightmove and Zoopla, continuing to inject much-needed competition in the portals market, while delivering a superior digital user experience for property-seekers."

OnTheMarket - the third-biggest UK residential property provider in terms of traffic - was admitted to AIM last year with £30m in new capital.

At 1340 GMT, the shares were down 1.4% to 91.20p.