In addition to a spike in people searching online for ‘properties for sale’, the analysis from Experian Hitwise shows that some of the fastest growing property search terms in the UK over the last year also include:
– ‘rural property for sale’ +317%
– ‘renovation property for sale’ +828%
– ‘French property for sale’ +2507%
However, with fewer people searching online for mortgages it suggests that UK consumers are ‘window shopping’.
Charlotte Hogg, Managing Director of Experian, UK and Ireland, commented:
“The last few months have seen some stabilisation in the UK economy and our data suggests that British consumers are starting to think about the property ladder again by using the popularity and convenience of the Internet to search for houses for sale. Despite Internet searches for mortgages being down compared to last year, the level of online interest in property could be a tentative sign that people are beginning to feel a little more optimistic about the economy.”
Experian’s Insight Index also highlights that UK Internet searches for houses for sale are similar to those in the US, which also increased by 32% during the first three months of 2010, compared to the same period in 2009 [see table 1 below]. However, the UK is lagging the US when it comes to people searching for mortgage deals, with online search activity dropping by nearly a quarter compared to January to March 2009.
Have your say on this story using the comment section below