US property website Zillow buys StreetEasy for US$50m

American property website giant Zillow has bought the New York online property listing StreetEasy for US$50 million.

The seven-year-old start-up provides a comprehensive for-sale and for-rent listing through partnership with New York real estate agencies.

The website has 1.2 million monthly users and 34 employees.

Though New York focused it also has listings for properties in Philadelphia, Washington DC, South Florida, New Jersey and the Hamptons on Long Island.

"StreetEasy is an incredibly strong and recognised brand in New York City," Zillow chief Spencer Rascoff said in a statement.

"Simply put, StreetEasy has cracked the code in New York.

“They now have a local network effect where nearly every New York broker is active on StreetEasy because of the site’s large audience and comprehensive data.”