OnTheMarket set to release its latest trading figures

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This morning property OnTheMarket will release its latest figures to the stock market.

The portal, which floated on the alternative investment market in February 2018, closed with a share price of 83.5p yesterday, down just shy of 2%.

Earlier this week it announced the launch of its market intelligence features, which include a sales monitor tool not available on Rightmove.

Last month, an OnTheMarket trading statement revealed that fewer agents than anticipated had converted from free or discounted deals to full-tariff payments.

This caused the portal to reduce its revenue and profit guidance for 2020 and 2021.

It revealed, however, that over 2,000 agents have recently signed under paying contracts, paying an average of £297 per month, with 46% of these contract three or five years in length.

The portal reported as part of their previous trading statement that it anticipates the September visits and leads reported in today’s figures to be at record highs.

This page will be updated from 7am when the figures are released.