UK online estate agent , Purplebricks , is planning to expand into Australia to tap into a £ ##500 market . The stock – of which Woodford Investment Management has a 28 per cent holding - has had a volatile six months, hitting a low of 72.5p in January as global stock markets slumped at the start of the year, before rallying to a peak of 180.0p last month. The firm has put together an Australian management team and is hoping to raise £ 10 m in the country over the next two years . Purplebricks recently listed and announced a 448 % increase in its annual turnover to £ 18.6 m as the UK continues to turn away from high street estate agencies . The firm expects to have 245 agents by month end , up from 165 before its float . Chief executive , Michael Bruce , said Purplebricks currently has 62 % of the non - traditional estate agent market and wants to replicate that success in Australia .
UK online estate agent , Purplebricks , is planning to expand into Australia to tap into a £ ##500 market . The firm has put together an Australian management team and is hoping to raise £ 10 m in the country over the next two years . Purplebricks recently listed and announced a 448 % increase in its annual turnover to £ 18.6 m as the UK continues to turn away from high street estate agencies . The firm expects to have 245 agents by month end , up from 165 before its float . Chief executive , Michael Bruce , said Purplebricks currently has 62 % of the non - traditional estate agent market and wants to replicate that success in Australia .