Yesterday’s launch of onthemarket.com seems to have underwhelmed investors as shares in rival Zoopla soared 10.4% and resolved confidence in the portal.

“In our mind the much awaited launch of Agents’ Mutual’s OTM has not lived up to the hype,” said Jefferies analyst Anthony Codling in a note yesterday.

“We appreciate that more listings may follow in the days to come because despite having more than one year to prepare, some of OTM’s customers were not ready for the big launch.”