Here’s what you need to know about the deal
Property giant Zoopla is set to buy the Hometrack website for £120m.
Hometrack provides information and data on the property market, especially property valuations, for both individual users and property professionals.
In a statement, Zoopla said: “Hometrack provides residential property market insights, analytics, valuations and data services to over 400 partners including mortgage lenders, new home developers, investors, housing associations and local authorities.
“The business provides its market-leading products to 15 of the top 20 mortgage lenders in the UK as well as all four leading Australian mortgage lenders and its UK AVM is recognised by all the major ratings agencies.
“Over 70 per cent of Hometrack’s revenues are subscription-based and underpinned by long-term relationships.”
Ishaan Malhi, CEO and founder of online mortgage broker Trussle, said: “Zoopla is leading the creation of a strong proptech ecosystem in the UK, which for consumers means finding, buying and financing a home has never been easier or more accessible. This acquisition of Hometrack is a big deal, and another major step toward making this consumer journey as seamless as current technology will allow. Hometrack’s automatic valuation capabilities are widely celebrated, and together with our own ability to let Zoopla users find a mortgage at the same time as finding a house, the future of the sector is looking bright.”