Many industry analysts have dismissed a claim by an online estate agency that a 21 per cent fall in new listings on Rightmove is anything more than an end-of-year slowdown.
HouseSimple yesterday said the fall in the portal’s new listings by a fifth over the course of November - and in some individual locations by more than 40 per cent - represented more than a seasonal drop.
Alex Gosling, the agency’e chief executive, described the fall as “too dramatic to be simply attributed to seasonality factors alone.”
However, on Twitter Neal Hudson, associate director of residential research at Savills, said: “Sounds seasonal to me but no way of knowing without at least a couple of years data.”
The market commentator and buying agent Henry Pryor said: “I'm reaching for the salt. I suspect that this may require more than a pinch.”
Meanwhile Adam Day of Hatched - the online agency recently acquired by Connells - said the 21 per cent fall spotted by HouseSimple was in line with a long-term trend. “Our own figures over the last 10 years show November being between 15 per cent and 25 per cent down on October.”
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This is a publicity stunt if ever I saw one - well done ''the media'' for helping them achieve their objective of ''free media for our business''
The bottom line is ''there is no story here''
Surely it's better that the property 'media' point out the flaws in these stats rather than letting them get picked up by others and preached as gospel?
Perhaps but I get bored of these barmy press releases being used by PR Companies just to 'create' news where there is none.
If the report was not published in the beginning, there would be no need for a response. Plus in any case many of us should see this for what it is: Free Publicity
thanks for your response.
Yes very true Rob re creating news where there is none. Unfortunately the online space means there is an abundance of 'news' pages to fill - most of what we read whether it be about online or high street estate agents is 'free' publicity...
I am fed up with the news updates on this site. Endless headlines from 'Online' agency experts who frankly shout loudly but have nothing to back it up. Say perhaps we are three years into the 'online revolution' and they are still a tiny speck on the landscape of estate agency. If I had had the adverting budget that the brothers with coloured bricks have used, I would expect to have every property on the market within ten miles of my office and some but they remain an irrelevence and they are the the largest one. So please no more of this stuff from people who are no more than minnows giving sweeping comments on the property market.
I think Henry Pryor got it right saying that the stats from HouseSimple should be taken with a pinch of salt. Reports and research are released all of the time, doesn't mean all should be treated as gospel. Many of the online agents haven't yet attained the industry's respect that these stats are true in my opinion. I much prefer to obtain stats from resources like the ONS and such like.
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