Rightmove pops up on our news feed most days, and today is no exception. The UK portal giant has released 2 separate sets of figures around housing in Britain and its ex-Commercial Director, Jason Bushby has given an interview defending the value to agents of the portal’s advertising.
The data released suggests that towns away from the wealthy Southern part of England are seeing a resurgence with Yorkshire and Humberside among the regions seeing increases in demand. Data from a separate study of 7,000 newly agreed sales suggests that ‘second-stepper’ homes which typically have three bedrooms are achieving the best selling price relative to the asking price (98% on average). Both sets of findings back up the theory that house hunters are looking away from the expensive areas around London as they gain the freedom to work from anywhere and look for more living space.
In other news related to the British behemoth portal, one of its ex-bosses has come out and declared that agents shouldn’t question Rightmove’s profit margins or price but the value for money that they receive from its offering. In an interview for Estate Agent Today, Jason Bushby breaks down the equation for agents saying that for a typical agency with typical stock levels (47 properties) taking an average time to sell (2 months) the cost to sell each house on Rightmove is around £42 which he sees as good value. The interview with industry consultant Chris Watkins is well worth a watch and bound to cause some debate among UK agencies.