Revenue has leapt a third at property website OnTheMarket over the past year, topping £30.4m as the UK’s real estate sector swells in value.
Property prices have hit new records every month this year, as the pandemic-era race and stamp duty holiday fuelled a frenzy in the market, which has bled into 2022.
The market is showing signs of slowing – in terms of properties having hands -according to several well-watched house price indices.
While the company has seen the average number of listed advertisers increase by just 11 in the period.
OnTheMarket swallowed an operating loss of £0.6m in the 12 months to 31 March, down from a £1.2m profit a year prior.
The London-listed property site also saw profit after tax dwindle to £0.1m, from £2.7m in 2021.
Though the company has doubled down on its marketing strategy, having buffed up its website and pushed out a new TV slogan; “Get Real About Moving. Get OnTheMarket.”
“Having listened and engaged with thousands of agents we are more convinced than ever in our strategy of building a differentiated, tech-enabled property business,” CEO Jason Tebb said in a statement.
“With our strong performance and momentum in the business the future remains very exciting for OnTheMarket. We are continuing to deliver increased value to our customers and serious property seekers, with innovative new products and a refreshed brand.”