Rightmove Record Site Traffic

Rinoa

http://www.estateagenttoday.co.uk/News/Story/?storyid=2713&type=news_feed

Rightmove recorded record site traffic on the first working day of the New Year – Monday, January 4. It says that over 25m page impressions were served, toppling the previous record set in August 2009 of 22.5m. There were 12.5m property searches.
The record comes after Rightmove kicked off its latest TV advert which features estate agents as a species in the Serengeti national park.
Rightmove commercial director Miles Shipside said: “It’s too early to say if the record traffic is a portent of a further uplift in the market for 2010, but it is an encouraging sign.”
The Digital Property Group, whose sites include Primelocation and FindaProperty, also says it had a boost in traffic, with a 27% increase in unique visitors and a 47% rise in inquiries during the first five days of the year.
Marketing director Sarah Robinson said: “We are aware that agents are still desperate for more instruction-winning stock, as well as more home buyers and renters with the means and confidence to move. A 47% increase in enquiries provides exactly the right support for agents in what remains a challenging market.”

phil_b_2

Prob everyone hoping for a post-xmas price crash so they can pick up a 4-bed detached for 10p.

HAMISH_MCTAVISH

There were 12.5m property searches....
.

In just one day......:eek:

Theres only 650,000 houses for sale in the whole UK, down from 1.1 million at peak.

I don't see any prospect of the supply shortage being resolved any time soon....

abaxas

Maybe someone wrote a bot :P

Really2

Maybe everyone was checking brits
50% down by end of 2009
had happened.

nollag2006

My cunning plan to Sell to Rent could just work.

Here is the proposed plan:

1) Take advantage of the rapidly rising house prices and sell my entire portfolio by the end of the month

2) Come on here an wail and moan at all the economic data coming out (Plenty of "Life is soooo unfair" stuff)

3) Read lots of rubbish from Jon Boy Davis and Friends on HPC - thereby convincing myself this is a really really good idea

4) Repeat steps 2 and 3 until the market has well and truly pulled away from me, and I'm stuck in rentals until old age

This strategy works !! Jon Boy STR'd in 2002, and is still moving between steps 3 and 4.

nollag2006

Forgot to add the most important bit - all proceeds from the sale of property will be re-invested into an extremely volatile, speculative asset with nil yield.

This is the most important factor - there should be no potential income stream from the asset. All investments must solely be based on the hope that there will be a HUGE capital windfall in the short term

:T

1984ReturnsForReal_2

Hamish has been busy..

Spartacus_Mills

HAMISH_MCTAVISH wrote: »

In just one day......:eek:

Theres only 650,000 houses for sale in the whole UK, down from 1.1 million at peak.

I don't see any prospect of the supply shortage being resolved any time soon....

Given there are only a maximum of 70,000 mortgages granted per month how does this translate into a shortage of supply. I appreciate that there are cash buyers but they do not outnumber mortgagees by 9 to 1 !!!!

Indeed 2 weeks ago on Wake up to Money property expert Henry Pryor demolished the myth of a shortage of housing on that very basis.

HAMISH_MCTAVISH

Spartacus_Mills wrote: »

Indeed 2 weeks ago on Wake up to Money property expert Henry Pryor demolished the myth of a shortage of housing on that very basis.

Who? Never heard of him. And he obviously didn't demolish anything, as the shortage of housing for sale is an indusputable fact, not a myth. There is no other way prices rise by 10% in a recession, on a third of the mortgage lending of 2007, when the rates paid by new borrowers are the same as 2007.

There's about 90,000 transactions a month at the moment, including cash buyers.

This number has increased since february, although will dip over winter, as it's seasonally normal for it to do so.

The amount of stock in the system has reduced from 1.1 million a couple of years ago to just 640,000 today. At the same time, new rental instructions are now at their lowest level in history, according to RICS.

So where did all the houses go? If not for the fact that increasing population is consuming more houses than we build, so available stock is decreasing in both rented and for sale houses.

nearlynew

I have started looking at rightmove this month after an absence ofabout 4 months.

Seeing big reductions (using pb) and lots of "offers around" prices.

Things are looking good