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PropertyPal & Propertynews merger triggers competition concerns

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PropertyPal and Propertynews merger could lead to higher prices for agents and consumers

A Belfast estate agent has raised concerns that a merger of Northern Ireland’s two main house sales websites will lead to higher prices for agents and consumers.

A source familiar with PropertyPal pricing has said that currently NI agents pay fees per property that are about a fifth of that charged by the big UK portals and about a third of what agents pay to portals in the Republic of IrelandPropertynews was originally a property magazine which went online in 2000 while PropertyPal was launched in 2007.The merger will see Propertynews’ owner, GCD Technologies, become a shareholder in PropertyPal Ltd.

They later returned to the platform after getting assurances that the company would be more transparent about any planned changes.It has been founded by Stephen Cousins, a businessman who runs the a web design firm, BlueCubes.

 

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