StockMarketWire.com - Real estate portal OnTheMarket said web traffic in May had set a new monthly record.

The company recorded 25.4m site visits, up 8% on January's seasonal high and previous monthly record of 23.5m visits.

As at 3 June, OnTheMarket.com displayed over 650,000 UK residential property listings.

The company said its UK property stock was now over 83% of Zoopla's and around 65% of Rightmove's.

'Our May performance is further evidence that our growth strategy is working,' chief executive Ian Springett said.

'We have delivered another set of record-breaking traffic and leads results for our estate and letting agent customers, many of whom are choosing to list their properties on a new and exclusive basis.'

'This is driving traffic to our portal while injecting competition into a market which was previously a duopoly'.

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