With just days before the launch of new portal Boomin, Rightmove says it’s hit a record 9.1m visits in a 24 hour period for the first time.
Visits to Rightmove last week surpassed the previous record set on Budget day earlier this month, hitting a new record last Tuesday and then again the following day when visits were over 9.1m.
The portal says that on March 23 it also recorded the highest number of property sales occurring in one day.
Much of that is fuelled by an extraordinarily busy housing market, still reflecting the push of the stamp duty holiday.
In March so far new listings are already up 17 per cent on the total number listed for the month of February, and 28 per cent higher than in January.
New listings coming on are still not satisfying record buyer demand, Rightmove says, with available stock down nationally by 25 per cent year-on-year
However, those new listings had a slower start than usual in the first few months of the year, leading to a market with the greatest excess of demand over supply over the past 10 years.
The weekly number of listings coming to market is now improving, the platform says, and has just seen the highest since October last year.
Rightmove’s director of property data Tim Bannister comments: “As we head into half-term agents are reporting a frenzy of activity in some areas, with multiple offers from buyers at asking price and above.
“It’s very much a sellers’ market with Tuesday this week seeing a daily rate of sales agreed not seen in the past ten years. The lack of stock is still an issue but there are definitely some green shoots starting to emerge with listing numbers improving.
“There are definite signs that those sellers who were waiting earlier in the year are now making the most of the spring selling season and, with gardens starting to blossom, it’s a particularly good time to showcase these types of features to the growing number of buyers looking for more outdoor space.”
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Who cares? 9 million visits is immaterial. Its a fallacy that the more interest there is, the better the chance of a sale. Its time for portals to get specific, rather than generic. Give me the right buyer not the most interest.
The inevitable PR spin of how great they are right before they start increasing the rates. Amazingly lots of agents will fall for it and start paying an extra 11%.
9m and that includes all us estate agents checking what the completion are listing
Statistics are just numbers, like the one RM will be using to increase yourrates
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