Tony Brasier, Chairman and Managing Director of PRDnationwide, said: “There has been a lot of talk about disruption in the real estate industry, but the real results show that it has had little impact.
“It also shows that most of the disruption is coming from within the industry with traditional agents setting up different models.
“This is not to say agents don’t need to be aware of disruption, but at the moment it is not making a difference to the market.”
Sydney’s disruption data
Disruptors were defined by the PRDnationwide team as anyone that is not a real estate franchise or independent agency.
According to the research the market share achieved by real estate disruptors in Sydney was 0.49% in 2014; 0.50% in 2015; 0.63% in 2016; and, so far in 2017, 0.32%.
The table below compares the sales prices of disruptors against real estate agencies and the percentage difference between the two.
| Year |
Unit disruptor |
Unit traditional |
Difference |
| 2014 |
$555,000 |
$594,000
|
7%
|
| 2015 |
$676,200 |
$666,333 |
-1% |
| 2016 |
$660,000
|
$705,000 |
6% |
| 2017 |
$820,000 |
$748,000 |
-10% |
| Year |
House disruptor |
House traditional |
Difference |
| 2014 |
$730,000 |
$890,000 |
18% |
| 2015 |
$850,000 |
$1,066,000 |
20% |
| 2016 |
$861,500 |
$1,090,000 |
21% |
| 2017 |
$940,000 |
$1,150,000 |
18% |
Although the difference for 2017 is -10%, PRDnationwide said this was based on one disruptor unit sale so far.
They also added how Sydney has a much vaster range of different agencies in comparison to other capital cities, which makes it a harder market to crack in terms of getting a foothold in the market.