UBS upgrades Purplebricks on back of market rebound

Hybrid and online estate agencies have seen their share of the £1m+ property market jump by 27% in the last two years - albeit from a low base.

The Agency UK has stepped up its expansion around the country, with a raft of new joiners following Purplebricks' transition away from a self-employed business model.

“We feel now is the best time to be building on our success and re-starting our expansion programme,” says 179-year-old estate agency Humberts, which was bought out of administration just before the…