Purplebricks banked more than £18m in fees for thousands of homes it did not sell last year according to this morning’s Daily Telegraph.

It says the agency withdrew 21,380 listings in 2019 as market jitters forced many buyers and sellers to stay put.

The paper cites housing market data firm TwentyCi as the source of the figures.

Purplebricks is quoted in the article saying: “We are very confident our customers understand our upfront fee model and know it gives them a much higher chance of selling, for a much lower cost.”

The agency is also quoted as suggesting that it had saved its successful customers over £150m in fees they would otherwise have paid to traditional agents