This article is from the Australian Property Journal archive
THE REA Group's United Kingdom subsidiary, Propertyfinder Holdings, has bought Sherlock Publications for £5.6 million ($A12 million) – the operator of hotproperty.co.uk.
Hotproperty.co.uk is the UK’s sixth largest property website and is used by 1,300 paying real estate agencies to advertise 170,000 listings. In addition, Sherlock Publications publishes the popular Hotproperty, Renting and Overseas, print publications with a combined monthly circulation of 120,000.
It is planned to run the propertyfinder.com and hotproperty.co.uk websites in parallel with estate agencies having their listings appear on both sites for the sub scri ption price of just one of the sites. At acquisition, there are over 5,500 unique real estate agencies advertising 400,000 listings on the propertyfinder.com and/or hotproperty.co.uk sites.
Once the sites are linked, subscribing real estate agents will automatically expose all their listings to over 2 million unique visitors on propertyfinder.com and 400,000 unique visitors on hotproperty.co.uk.
The Hotproperty, Renting and Overseas print publications will be brought under the Propertyfinder Publications business unit that is responsible for the publication of the London Property News magazines, which reach over 250,000 readers each month.
REA’s chief executive Simon Baker said the group is turning up the heat in the UK property portal market.
“This is a win for estate agents already advertising on propertyfinder.com and/or hotproperty.co.uk because they will have all their properties listed on both sites, for the cost of one sub scri ption. The result for estate agents will be more leads at no extra cost.
“This is also a win for consumers. Sellers and landlords will now have hundreds of thousands of more potential buyers and tenants see their properties,” he concluded.
Australian Property Journal
