British real estate vertical OnTheMarket.com reported it’s doubled monthly traffic to 12 million visitors in its first full month on the London Stock Exchange (LSE). The site listed on the LSE AIM market on Feb. 10, 2018.
In a news statement, the company acknowledged that while this is only one month of data, “directors consider this growth to be very encouraging and expect momentum to continue over the coming months”.
Numerous agencies have signed up with OnTheMarket since it listed, with around 240 joining in the first 10 days following its initial public offering. Overall, it claims to have contracted 1,000 more agent branches since the IPO.
While these figures are obviously encouraging for OnTheMarket and its investors, the traffic figures still put it a very distant third in the U.K. According to SimilarWeb, Rightmove.co.uk attracted 59.5 million visitors last month, while second-place vertical Zoopla.co.uk saw 28.5 million.
OnTheMarket appears to have pulled ahead of the Zoopla Group’s high-end property vertical PrimeLocation.com, though, as it only received 5.7 million visits last month according to SimilarWeb.
OnTheMarket also said its expanding its customer sales team, hoping to double its current number of team members by the end of April.
CEO Ian Springett said: “We are very pleased to have delivered a major uplift in visitor traffic in the first full month post-IPO. The early signs show that even before the full ramp-up of marketing spend, we have been able to generate significant increases in our levels of traffic to the site. We now look forward to a period of investment in marketing to build effective consumer engagement.”