Now this is not the first free site in the UK with zoomf.com, globrix.com, and dothomes.co.uk (to name a few) all promoting agents listings for free. To date these sites have worked in parallel with the big four - rightmove.co.uk, propertyfinder.com, fIndaproperty.co.uk and primelocation.com. Agents tend to pay to be on one or more of the big four and then also use some of the others for additional leads.
However with the economic down turn in the UK, the interest in searching for property online has decreased as can be seen in the decrease in page views to the top 4 sites - especially rightmove.co.uk. The result is that less page views is likely to mean less leads for advertisers and therefore the paid for sites will find it harder to justify any price increases.
On the other hand, the free sites, such as nestoria.co.uk and globrix.com have experienced good growth in the number of page views that they are generating. Globrix.com (backed by News International) has made good progress since launch in January 2007.
However, to put it all in context, i have compared rightmove.co.uk to globrix.com and nestoria.co.uk, you can see that rightmove.co.uk dominates them both in terms of page views generated for agents.
Therefore, even though propertylive.co.uk is being launched and backed by the NAEA, they will have a very long way to go to make a real impact in the UK market.