No Data for Rightmove's House Price Index

April 19, 2020
Share this Post: 

Since the British government effectively closed down the housing market towards the end of March by enacting lockdown restrictions, Rightmove does not have enough data to compile its House Price Index for the first time ever.

The UK portal giant publishes its House Price Index on a monthly basis, but for the first time it will not be able to do so this month. According to Rightmove Analyst and Director, Miles Shipside,

“Given the lockdown and pausing of key activities in the housing market, statistics on the number of properties coming to market, new seller asking prices, and new sales agreed are not meaningful.”

It seems that The UK housing market, along with others in Europe, are experiencing what the Chinese market experienced a month or two before. According to an interview with a prominent Chinese agent conducted by Spanish #1 portal idealista property sale transactions are down 30% year on year already. 

In some further bad news for the portal giant, a damning report in the Financial Times calls their handling of the crisis “fumbled”. The article speculates that the recent Say No To Rightmove campaign could prove fatal and send the network effect into reverse as agents finally have a common cause.

April 19, 2020
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Rightmove Not Listening
Rightmove to ‘Reject’ Listings Without a Price—and None of Its Current Listings Are Compliant

From today, new listings that don’t display a price cannot be uploaded to Rightmove. Rightmove made the announcement to comply...

Read More
Zigbang Investment Scaled
Zigbang Secures $77m Funding Before Anticipated IPO

Real estate marketplace ZigBang has raised ₩100 billion ($77 million USD) in what is believed to be a pre-IPO equity...

Read More
Shutterstock 1668133759 Scaled
Offerpal secures pre-seed funding round

Proptech startup Offerpal has raised an undisclosed pre-seed funding round led by Swedish venture capital firm PropTech Farm, with Offerpal...

Read More
Immowelt And Remax Partnership
Immowelt and RE/MAX Expand Their Partnership

Remax Germany and immowelt will increase their collaboration through shared marketing services. Immowelt will now provide some of its digital...

Read More

Popular News