Rightmove has reported its busiest ever month, with visitors passing the 150m mark in January for the first time – a 7% year-on-year rise in traffic.
It has also reported that the number of sales being agreed by agents was up 12% compared with last January.
The biggest uplift in sales agreed was in London, up 26% year-on-year, followed by the east of England, up 20%.
However, new listings have not picked up, Rightmove said.
The portal reported that there were over 152m visits in January. The previous record for the busiest month was last May.
The top five busiest days for traffic on Rightmove were all between January 21 and 29, with the most traffic on Wednesday, January 29. There were over 5.7m visits that day.
Rightmove director Miles Shipside said: “Home-movers have sprung into action, with a large number of agents telling us that sales and valuations have picked up significantly in their local areas.
“There’s still an imbalance, with demand growing at a faster rate than new supply and no clear sign yet of any uplift in new listings compared to this time last year, but we could see a new wave of sellers in the coming weeks.
“The annual jump in sales agreed numbers is the highest we’ve seen in any month since the summer of 2017, which saw a significant uplift compared to summer 2016 because of the short-term dip in activity immediately after the Brexit vote.
“The stage certainly looks set for an active spring if those sellers considering putting their homes up for sale end up doing so, but to catch this wave of buyer momentum sellers should take care not to over-price their homes.
“It’s still a price sensitive market and there’s a limit to what buyers can borrow even though mortgage interest rates are temptingly low.”
| Area | Difference in sales agreed
Jan 2020 vs Jan 2019 |
| London | 26% |
| South East | 19% |
| East of England | 20% |
| South West | 9% |
| West Midlands | 7% |
| East Midlands | 8% |
| Wales | -1% |
| North West | 10% |
| Yorkshire and The Humber | 5% |
| North East | 14% |
| Scotland | 7% |
| National | 12% |
Comments (15)
“Rightmove reports record traffic…”
twitter.com/Kimberley_LG/status/1225139236640301058
Explains a lot, I would suggest…
Seeing two people (so far) using this as a sounding board for their usual tirade of RM being rubbish etc etc……..
Data is what you make of it. If you can’t use positive data of buyers being more prevalent and traffic on portals being at a 9 month high off the back of stronger political outlooks and a surging pound to generate an instruction from a market appraisal you did 6 months ago when the vendor was uncertain, maybe estate agency isn’t for you.
It’s not Rightmove’s job to make sellers come to market, it’s yours. Pick up the phone, call your failed MA’s last year, use the data available, generate instructions. Rightmove doesn’t control your own activity.
Two constructive comments about the way RM run their business, neither of them said they were rubbish. Both were ultimately about the level of their fees. Not many people come on here these days to defend this outfit.
brokerofexcellence?
You crack on with your business, I’ll crack on with mine. In the meantime. Rightmove? When they twattle on about lack of sellers? As an overpriced Online Property Ad – what added value to they bring, for instance, specific marketing targeting sellers It’s obviously too big a leap for you to expect more from Rightmove, however I expect helluva lot more than tv ads/glib press releases in exchange for exhorbitant monthly charges to advertise properties for sale
Now, excuse me as I’ve got a busy day tomorrow working as an estate agent. You pop along and play around the putting green – just knock the little white ball towards the hole, that shouldn’t be too much of a stretch, just like Rightmove? they don’t do a great deal either. Take you’re putter away and your pucked, take RM’s property away and their pucked too
Ooh, did I touch a nerve GeorgeOrwell?
Apologies it took me a little while to respond to you, I was just tying up my 7th sale this week and putting the finishing touches to the 33rd property I’ve listed this year, then having a morning meeting with my 5 negotiators, 2 listers, 3 mortgage advisers and sales progressor. I don’t always have time to moan about Rightmove on PIE you see, as I’m busy servicing my clients instead. The mortgage business we run off the side of it is doing quite spectacularly as well you’ll understand.
Now excuse me as I’ve got a busy day today working as an estate agent. If you want to come to my putting green so I can work on your stroke with you, I’d be more than happy to. Although I tend to find the approach play from tee to green is the bit that most need to work on first. All well and good knocking in the putts from 3 yards out, but still a struggle if it’s taking you 18 shots to get there you see.
Sure, whatever dude.
Rightmove years are numbered…. I said years not days…. off RM after almost 7-8 years with them. Wanted £1700 PCM for subscription saying they worth the money.. we agents give you the stock and it’s we who get the shock ! No agent stock no RM. Remember you are what you are coz of us agents and not the other way round. An agent can survive without RM but if there no agents there’s no RM… value your customers and don’t bite the hand that feeds you. Sick of their constant arrogance. Bye bye
So despite charging agents millions and lecturing the industry how vital they (Rightmove) to our industry, Rightmove deliver nothing in terms of increasing stock flow
So, Rightmove is, as we always knew, just an advert, nothing more
I’m pretty sure Rightmove have never claimed that they are able to make homemovers come to the market???….dislike them for their pricing sure…but at least try and be objective
Numbers like they have reported being in the National press might help us all though. Very promising indeed.
Let me make my comment clear for you JB1, rather than your interpretation of what I said
”deliver nothing in terms of increasing stock flow”
If you wish to comment on my comment, re-read
‘So, Rightmove is, as we always knew, just an advert, nothing more ‘
That’s like saying that Google is just a directory to find things online, it’s the audience and exposure your buying and that why people pay to be at the top of Google.
Marketing point 1 – put yourself in front of the biggest audience
“biggest audience”
of ?
…people?
Not sure why this is so complicated for you to understand?
Not an estate agent then?
Seller0169
FEBRUARY 5, 2020 AT 13:26#6
…people?Not sure why this is so complicated for you to understand?
…the vast majority of whom are
TIMEWASTERS ?
The audience counts for little, if the quality is cr@p