Purplebricks rolls the dice on Las Vegas launch

Purplebricks sign

Purplebricks is to continue its expansion into America with launches in Las Vegas, Nevada and Phoenix, Arizona.

The online estate agency has already launched in several American locations, as well as Australia.

Michael Bruce, Purplebricks’ group chief executive, said: “The Purplebricks model has continued to achieve great results on both coasts by providing excellent service and saving home sellers in California, Connecticut, New Jersey and New York thousands of dollars.

“We see tremendous opportunity in Las Vegas and Phoenix, as both markets have ideal demographics comprised of consumers eager to buy and sell homes while saving money.”

The Solihull-based group, which has a market valuation of £1bn, is looking to grow quickly and in March it revealed a £125m investment by European publisher Axel Springer as part of a “major strategic advance”. Purplebricks said it will use the investment to accelerate its roll-out in the US, to enter new geographic markets and fund technological innovation.

It began its American expansion in September 2017, when it launched into Los Angeles, with subsequent roll-outs into San Diego, Sacramento, Fresno and New York.

Purplebricks described both Las Vegas and Phoenix as “fast-growing cities with buoyant real estate markets” which between them have more than 200,000 property transactions each year.