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  • Writer's pictureSarah Ruivivar

Purplebricks' '10 Days Faster' Claim: Truth or Tall Tale?

Updated: Oct 30, 2023

Has Purplebricks unlocked the secret to faster property sales? Or is this just a clever marketing ploy?

The online estate agency has recently claimed that they sell properties a whopping 10 days faster than their competitors. This bold assertion, splashed across various social media platforms, has raised eyebrows and questions alike.

Purplebricks, known for its disruptive approach in the property market, was acquired by Strike earlier this year for a token sum of £1. Now, they're making waves again with their latest advertisement. But is there any truth behind their claim?

According to a Purplebricks spokesperson, this statement isn't plucked out of thin air. It's based on data from TwentyEA, a comprehensive property and home mover database in the UK. The 'time to sale agreed' is calculated by measuring the days between the instruction date and the first Sold Subject to Contract (SSTC) date.

However, there's a catch. The data provided by Purplebricks only pertains to 2022, a year when the property sales market was booming. The company's data shows that on average, it took them 34 days to agree on the first sale of a UK property they instructed, compared to the 44-day average for other UK estate agent brands in 2022.

But what about 2023? The property market isn't static, and conditions have certainly changed since last year. When questioned about the relevance of their 2022 data to current market conditions, Purplebricks insisted it was the most recent data they had from independent industry analysts.

However, they declined to comment when asked about the potential for their claim to be misleading due to the omission of the date range from their advertisement.

So, what's the verdict? Is Purplebricks really the Usain Bolt of property sales, or is this just a case of clever marketing? As with most things in life, the devil is in the detail. And in this case, the detail might just be in the date range.

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