Disruptive Technology

February UK housing snapshot: smoke on the water

  • Sectors : Disruptive Technology
  • Companies : Purplebricks Group plc | Rightmove plc | OnTheMarket plc


Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
OnTheMarket plc NEUTRAL 09/08/22 N/A N/A 68.0p
Purplebricks Group plc NEUTRAL 24/01/22 N/A N/A 8.4p
Rightmove plc OUTPERFORM 24/01/22 N/A N/A 560p


Mortgage approvals were revised up for December 2022 and are seemingly hanging tough in January 2023 – is this the famous resilience of the UK housing market or the calm before the storm? Lloyds forecast a 7% fall in prices in 2023. 2023 is shaping up to be a tough year for estate agents, evident by Purplebricks (PURP) being put up for sale as poor leadership, operational confusion and a declining market share weigh.

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Mar 3 2023, 07:00 GMT