(Alliance News) - Property portal OnTheMarket PLC on Wednesday said it has signed a listing and additional advertising products agreement with blue-chip housebuilder Barratt Developments PLC.
Under the deal, Barratt will be listing residential developments and properties for sale at OnTheMarket.com from its three consumer brands, Barratt Homes, David Wilson Homes and Barratt London.
While OnTheMarket does not expect this partnership to have a material effect on revenue for its current financial year, it said it represents OnTheMarket's first step in addressing the opportunities within the new homes market, broadening its increasing relevance to active property-seekers.
"It's another milestone moment as we continue to deliver our transformational growth strategy," said Commercial Director Helen Whiteley. "New homes developers have been our first focus in broadening our advertiser base, and I am delighted that the first housebuilder to join us is the leader in its field."
Added Barratt Sales & Marketing Director Jeremy Hipkiss: "We are pleased to be the first housebuilder to work with OnTheMarket to list developments from across our business and we look forward to working with the team to reach more customers."
OnTheMarket shares were trading 5.1% higher in London on Wednesday at 97.25 pence each, while Barratt shares were up 3.0% at 626.80p each.
Barratt Developments (BDEV)