OnTheMarket (LON: OTMP) did not provide any surprises in its interim figures. After all, there were forecast downgrades a fortnight ago. The estate agency portal is attracting views by house buyers, but it needs to generate more revenues.
Listings are increasing and the average number of leads for an agent was 112 per month. Management believes that is a higher number than for Zoopla and the cost of the leads is lower than for Rightmove. Property buyers are becoming increasingly aware of the OnTheMarket brand.
In the six months to July 2019, revenues were 14% higher at £8m and the underl...
