OnTheMarket (OTM) says its growth strategy is exceeding expectations, boosting its popularity with estate agents and establishing itself as a credible alternative to market leaders Rightmove and Zoopla.
Two years after being acquired by CoStar – a move hailed by some as a potential “gamechanger” in the portal sector – OTM has delivered a positive update, reporting performance that, by its own metrics, surpasses internal expectations.
When CoStar purchased OTM, then-CEO Jason Tebb said the deal would “significantly accelerate” the platform’s strategy, with the goal of becoming the market leader. The company maintains that it remains on course to position itself as a serious alternative to the dominant portals, even as Rightmove and Zoopla continue to lead the sector.
Since joining CoStar Group in December 2023, OTM says it has seen website visits rise by 55% and page views increase by 110%, while property stock grew by 47%. Engagement has also increased, with the number of property alerts sent doubling compared to 2023 and sales lead generation up by 94%.
Tebb, now president of OTM, commented: “The strategy was clear from the outset: to implement CoStar Group’s expertise and investment early on to accelerate us toward our goal of becoming the market leading portal in the UK. These initial two years have focused on fortifying the fundamentals that matter most to our customers: mobilising almost £50m of committed investment to build inventory, enhance web traffic and engagement from serious property seekers, and increase quality lead generation. All while continuing to provide fair and sustainable pricing.
“The results speak for themselves. This significant growth is a clear reflection of the rising confidence in our platform as the trusted destination for property seekers and estate agents.”
He added: “The progress we’ve made is only the beginning. With further significant investment in 2026 and beyond, we are more committed than ever to deliver even greater value for our customers, pushing innovation across the platform, and continuing our journey towards becoming the UK’s leading property portal.”
