Interest from home movers has begun 2008 more briskly than some feared, according to the latest figures from propertyfinder.com.
With the Land Registry reporting national prices up 0.9% in the month, and rises in all regions except Wales, estate agents and mortgage brokers have good reason to be a bit cheerier. Mortgage approvals showed a modest month on month recovery too, after taking seasonal changes into account. This has all been reflected in propertyfinder.com’s own statistics.
After the end 2007 lull, January visits to propertyfinder.com soared 104% with unique users up 90% compared to the previous month. But this is more than just a seasonal uptick. Compared to January 2007, the number of people searching for property rose 15%.
These visitors were not just idle browsers. propertyfinder.com also delivered 38% more leads from people expressing interest in specific properties to estate agents in January 2008 compared to January 2007.
Lettings were particularly strong. Online viewings of rental property rose 25% faster than properties for purchase and the number of leads propertyfinder.com delivered on rental properties rose 35% faster than leads on properties for sale.
Gillian Kent, chief executive of propertyfinder.com said: “2008 has started better than feared and we have seen a lot more interest from home movers than expected. While much of this reflects propertyfinder.com’s own growth, there is also some life in the market. Anecdotal evidence from some of the big estate agency chains shows increased properties on the market and increased interest from home buyers and renters. Mortgage approvals for house purchase have also picked up from their record lows, although they remain subdued. The rental market is where things are busiest and we are seeing phenomenal interest from people looking for good rental homes. Our lead generation for estate agents shows that people are not just browsing but actively seeking to move.”
