Zoopla reports strong growth in latest trading update
Zoopla Property Group has reported a strong period of growth in its latest trading update with twelve consecutive months of UK agency partner growth. The group's property platform increased its number of listings by 3% to 854k and the company grew its agency partners by 4%. The company plans to retain its focus on product differentiation and innovation after a boost in consumer engagement following its acquisition of the Property Software Group.

Since its half year report last year, ZPG's UK agency partners increased by 507 (4%) to 12,956 and ZPG says churn rates have now 'returned to normal historical levels'.

In its latest trading update to the City, ZPG confirms its websites and apps received over 300 million visits during this period, almost 70% of which were via mobile devices.

Zoopla Property Group (ZPG) has today reported a strong period of growth during the six months to the end of March 2016.

ZPG says it has now had 12 consecutive months of UK agency partner growth.

UK agency average revenue per advertiser grew by 2% to £361, driven by take-up of additional products.

The number of listings featured on the Group’s property platform increased by 3% from 828,000 on March 31 last year to 854,000 as of March 31 2016.

In its first update to the City since acquiring the Property Software Group, ZPG tells investors it remains focused on ‘product differentiation and innovation to drive further consumer engagement and help property professionals win more business’.

"We continue to further differentiate our offering in line with our mission to be the best resource for consumers when finding, moving or managing their home and to be the most effective partner for related businesses," says Alex Chesterman, founder and chief executive of ZPG.

“Following the end of the Period, we announced the acquisition of the Property Software Group and have begun integrating the business into the ZPG family.”

“This deal will transform our relationship with property professionals, providing the UK’s first-end-to-end business solution which will enable them to generate increased revenues and engage more effectively with clients,” he adds.