Purplebricks Share Discussion Threads

[bbmsionlypostafter] 31/7/2018 22:48

240p by Friday.

[ny boy] 31/7/2018 22:27

Smart money moving into (FOXT), institution took 5% stake, positioning post brexit. +14% today, plenty of upside with that one dyor as usual.

Can’t see the attraction with PURP, I guess the chart speaks volumes.

[rackers1] 31/7/2018 08:50

Bit like you advising us on nlg lolMoron

[hillofwad] 31/7/2018 05:41

The market has changed In the UK where estate agents are folding .Only last week the 10 strong branch Howard Cundey in the Home Counties established 50 years threw in the towel Foxtons posted their first loss for sometime

Unfortunately ,Bricks are facing Housing markets in decline in all their overseas markets too.They aren't King Canute being able to push back the tide just because they charge a fixed fee.

AUSTRALIA

They currently have 1533 listings which has been around this level for the last few months .84 hungry mouths of LPE's to feed. Massive churn of agents because listings are highly skewed to certain areas

The arithmetic doesn't lie. The early rapid growth has now tailed off.

hxxps://www.news.com.au/finance/markets/australian-markets/fall-in-housing-prices-will-be-quite-a-bit-larger-than-expected/news-story/cc4105c96076fb9822df39a16b04392d

CANADA

You might ask the question why they made what on the face of it seems to be a cheap acquisition The Housing Market there has hit a wall.. The foreign investor has been killed off with punitive tax changes, stricter mortgage rules have recently been imposed it's hit the buffers.

hxxps://www.huffingtonpost.ca/2018/07/27/canada-housing-market-vulnerable-
cmhc_a_23490386/

USA
Their most difficult market to penetrate is at least fairly resilient at the moment However signs are beginning to appear

hxxps://www.jpmorgan.com/global/research/us-housing-risk

However they ave made a very pedestrian start to the USA .My cousin who is a realtor on Staten Island is saying nobody has even heard of them.Their agents no longer appear on Realtor .com because the public can quickly establish how many individual listings they have

Here they are on Zillow

hxxps://www.zillow.com/profile/Purplebricks/

They have been particularly obtuse on how many instructions they have and refuse to answer that question You can be damn sure if it was high they would be shouting it from the rooftops Early days certainly

[rogthepodge] 30/7/2018 22:10

I have given you good advice in the past sb888

but you never listen

good luck

[sb888] 30/7/2018 21:18

numb nuts advising the shorters!!!! lmao

[ltcm1] 30/7/2018 16:44

I hope it bounces for you Rog as no position here. However if the 270 gets properly breached then it may be the express train to 100 for Purp.

[rogthepodge] 30/7/2018 14:30

I would close your short positions if I were you

this might be the double 270 bottom?

just tryin to be nice!

[phowdo] 30/7/2018 10:13

Not just the UK either.
Transactions off a cliff in California.

[andy] 30/7/2018 09:24

'Rog'

"rogthepodge29 Jul '18 - 15:40 - 5375 of 5376 0 0 0


it's not about house PRICES, it is about housing TURNOVER and if people need to save commission"

-------

The point you're missing is turnover falls when prices fall, as sellers become reluctant to take a 'loss', and buyers hold off for a lower price as prices fall.


PURP charge upfront fees, and that may start to prove very unpopular in a stagnating market, whereas your traditional High St. dinosaur works hard in order to achieve a sale, and doesn't charge anything if he fails to do so.

The PURP 'LPE' is incentivised more on achieving a new listing, rather than a sale


For a proprty seller the difference between the two is an easy choice to make to me!

[ltcm1] 30/7/2018 08:56

But Roger what normally happens is transactions crash aswell, as we saw in 2009. It can take time for the price adjustments to work their way through the system as often sellers are reluctant to accept the new normal.

Estate agency is very cyclical, no reason why Purp won't go bust like so many others will if there is a proper housing correction.

Purp could well be 50p this time next year.

[rogthepodge] 29/7/2018 15:40

it's not about house PRICES, it is about housing TURNOVER and if people need to save commission

[bbmsionlypostafter] 29/7/2018 11:57

US Housing Market Headed For "Broadest Slowdown In Years"

[hillofwad] 29/7/2018 11:39

Everybody is under the cosh !

Bricks new listings on Zoopla for July looks like heading for less than 5,500 so starting to flatline .Growth has certainly tailed off

Emoov looks as if they have missed the boat for their proposed listing early next year Going to need a massive ad spend and cash burn to try and raise the profile

With around 25 experts listed on site a massive recruitment drive too .Ewemove must be rubbing their hands as the public are going to find it very hard to distinguish between the 2 brands so potentially free advertising Emoov's current listings for July looking to be under 425 !!! way behind Yopa This is with a hybrid offer too so goodness knows what their revenue is like

Even adding in the paltry amount by Tepilo and the lettings by Urban .co.uk less than Yopa who are a country mile behind Bricks

[ltcm1] 28/7/2018 16:37

The other change is that mortgage companies are in some cases valuing houses at less than the agreed price, leading to the buyer having to fund the difference. This has contributed to the increase in houses for sale recently because more chains are breaking down.

[andy] 28/7/2018 12:08

buywell,


My local agent has twice as many as normal on his books, and few prospective buyers.


He says things have turned around a lot in 12 months, this time last year people were competing for properties and many sold over the asking price.

[buywell3] 28/7/2018 11:25

Adverse comment on Rightmove today in the papers

Which is a reflection on the UK Housing market going south

Rightmove feeds off the lifeblood of UK estate agents including PURP

Like it or not ... the UK housing market is now dropping faster and estate agents are now showing stress signs.

It has been very interesting to see high value homes coming to market ie valued at £2M or more outside of London around 15 months ago ... and since then

IMO the conclusion to draw is :

The people with money , ie in touch with money markets , have been trying to take their money out of UK bricks

Many have not succeeded

A lot of properties over £2M plus and above remain unsold

Only those that have been heavily reduced have attracted buyers ... IMO the current housing stock on Rightmove ie on UK estate agents books is NOW 10% over what it is worth.

Hence housing inventories (unsold properties) are rising FAST

[andy] 28/7/2018 09:43

ooops!





I wonder where it will go from here?

[andy] 27/7/2018 20:49

Rackers,


OK then,

WDO.v
TK.v
NMT - ASX

[topvest] 27/7/2018 19:27

Its pretty obvious that Purplebricks has topped-out as a share. The question now is whether it can hold its support level and tread water or collapse downwards.

[bbmsionlypostafter] 27/7/2018 19:00

This is down every week.

240p by next Friday.

[buywell3] 27/7/2018 10:58

I wonder which country PURP can open an office next ?

Property bubbles now abound

Debt levels due to low interest rates in those bubble countries look soon set to make them go















POP

[hillofwad] 27/7/2018 10:49

Well shouldnt be too concerned about Emoov despite the high profile raising of £2m on Crowdcube

LPE's disappearing now only 20 Some have 3 counties they are local agents in!!Recruited a number of LPE/sfrom Bricks of which some have already left.Loyal lot! Ramped themselves up to being N0 2 behind Purple bricks even though Yopa have 125 agents and so far this month booked double the listings of Emoov and even adding in Tepilo and Urban .co.uk still less
The Good ,The Bad and The Ugly

So massive cash burn required by Emoov on advertising and marketing to gain any traction

Weak branding too Likely to lead to free advertising for Ewemove and Urban Lettings because the public are never going to know the difference

[ltcm1] 27/7/2018 10:27

Rog stay strong and long!

Although I respectfully don't share your opinion about Purp in the long term, a bounce to 350 would hardly surprise in the coming month.

However, if they miss targets on the next big update I would expect the reaction to be pretty savage.