Original article by Larry Schlesinger
The Australian Financial Review – Page: 29 : 8-May-19

UK-based online real estate agent Purplebricks has advised that its Australian operations will be discontinued, citing factors such as challenging market conditions. Purplebricks entered the local market in September 2016, with co-founder and global CEO Michael Bruce forecasting that the Australian business would succeed. However, its fixed-fee sales model proved to be problematic for real estate agents, particularly given the downturn in the housing market.

CORPORATES
PURPLEBRICKS AUSTRALIA PTY LTD, PURPLEBRICKS GROUP PLC, UBS HOLDINGS PTY LTD