Trader Media Group moves into online property market

by Joe Lepper, Brand Republic 31-Aug-06, 09:00

LONDON - Auto Trader publisher Trader Media Group is to move into the increasingly lucrative online property market after buying website Thinkproperty.com.

The deal involves the Guardian Media Group-owned Trader Media buying Vebra, the firm behind thinkproperty.com, for an undisclosed sum in an attempt to rival market leader rightmove.co.uk.

Latest figures show that Trader Media faces a tough battle because while Thinkproperty has a database of around 275,000 properties and in July attracted 1.5m visitors, Rightmove has around 753,000 properties and recorded 3m hits in the same period.

As part of the deal, links to Thinkproperty.com will be provided through Auto Trader and Guardian Unlimited. It is understood that the deal was made after research by Trader Media found that an estimated third of Auto Trader's online visitors were also looking to buy a house.

It is also understood that Trader Media is to offer estate agents a free trial for a limited period and will be looking to undercut Rightmove on the charges it levies on estate agents.

Trader Media is the latest media firm to move into the online property market, which last year was estimated to be worth around £25m-£30m, and follows Daily Mail & General Trust's purchase of primelocation.com last year.

This latest deal comes as the Guardian Media Group looks to partially float Trader Media by April next year.

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