Rightmove reported a 45% increase in daily traffic yesterday as the UK government re-opened the housing market in England on Tuesday. Although agents will have to adapt their businesses to new regulations and the public are being encouraged by the housing department to house-hunt online, it seems that the previously pent up appetite Brits had to move is now showing itself, with Rightmove Housing Expert, Miles Shipside saying:
“Home movers who have been eagerly waiting to take their plans to the next stage should show some patience with agents given the unexpected announcement, to ensure there’s time to adapt to the new guidelines and everyone is kept safe.”
Another major jump was seen in enquiries, which according to The Negotiator were up 70%. New listings on the portal reportedly totalled 2,115 in the first 5 hours of trading.
This week’s news will be music to the ears of Rightmove’s investors who have seen the portal company’s stock take a huge plunge after the economic lockdown in the UK.