Investment case

The leading UK technology-led estate agent, with excellent growth opportunities in a market ready for disruption, and a clear strategy with the financial strength to execute successfully.

  • Largest, best known tech-led estate agent with 98% brand awareness
  • Most positively reviewed estate agent in the UK
  • 3.8x more sales than the number two UK estate agent
  • Opportunities to extend brand consideration

  • Launched in UK in 2014
  • Disrupted the traditional % commission fee model
  • Fixed fee up-front model achieved significant traction quickly
  • Launched as the first online estate agent in the UK
  • Introducing technology to take friction out of the customer journey
  • And to improve the experience of the estate agent in the field
  • Strong digital credentials across Executive Leadership
  • Clear evidence consumers are starting to shift towards apps and tech-based alternatives
  • Dual-sided business model, connecting customers with self-employed agents
  • We drive productivity and integrated with partners to create cross-selling opportunities at the right stage of the move process
  • Over 600 locally based, experienced local property agents
  • COVID-19 and lifestyle changes driving strong market activity
  • Stamp Duty extension helping near-term demand
  • Government support for first-time buyers will support lower price property transactions
  • Market set to return to growth following a long period of low transaction volumes
  • House Stategy focused on opportunities to grow share in UK market
  • Clearly articulated strategy and execution plan, with team in place to deliver
  • Medium-term targets set to track strategic progress:
    1. 10% market share
    2. £1,700–£1,800 average revenue per instructions
    3. 25%–30% EBITDA margin
  • Profitable UK operations (with improving EBITDA margin)
  • Cash generative business
  • No debt, £75m cash balance
  • Targeting 25%-30% EBITDA margin over the medium term
  • We believe that there are significant opportunities for further innovation and Purplebricks remains uniquely positioned to drive leverage through leadership and scale.
  • We have assembled a very strong Leadership Team with the right balance of digital transformation expertise across all of our functions.
  • Our new leaders have held senior positions at major digital organisations including Just Eat, Moneysupermarket, Zoopla Group, Betfair, Virgin Media, Holiday Extras and Microsoft.