Tuesday, 30 September 2008

Rightmove listings on their way down

Rightmove listings are on their way down. Is this just the time of year, the current economic climate, both, competition, agents waking up to other possibilities or something else?

The Negotiator posts on Rightmove House Price Index, which shows just 23,141 new listings this month compared with 30,341 during the same period last year and 30,792 in September 2006.

Some in the industry claim these figures support their view that agents are leaving rightmove on mass. Whilst I share their optimism, I doubt very much this is the case. Indeed, given the current climate, the closure of many agents will account for much of this drop in listings and the simple fact that house sellers are not selling in their droves must be common ground.

To this end, it must be reasonable to assume that the next 5 months will see similar reductions and whilst I don't want to be seen as a Rightmove advocate, one can't hold these figures aloft and claim the revolution is well underway. It has started, but like all good revolutions it needs time to build momentum.

viva la revolution


Anonymous said...

They still dominate the market though. They rank in the top 50 websites in the whole of the UK. Where do you think the next most popular portal ranks?

Property Owl said...

Prey tell?!