Home Buying Shoppers Reach Record High on Rightmove over the Holidays
Where there is interest in buying a new home one can expect that the interest will soon build demand. If the interest shown by those visiting the Rightmove website over the holidays is any indication, then consumers will be shopping around for a new home soon. According to the property listing website, a record number of visits were made over Christmas and New Year’s Day for both sales and lettings.
Visits to the site increased by 22% on the level seen in 2014. Almost 31 million page views to the site were recorded on Boxing Day and there were 44 million page views on 30 December.
Rightmove will release their monthly price index report on 18 January and more detailed information will be made available then.
Righmove believes the jump in visits could be directly related to the uplifting and emotional advertising campaigns released on Boxing Day. The adverts connected the joy and elation felt when the right property is discovered that fits the unique desires and needs of a family unit.
There could also have been a push in visits due to the emotional ties of the holidays. People often imagine their ideal holiday and that is built around a new leased property or home. They could be planning for the next year and looking for a good deal in the market.
Consumers have remained optimistic and that spills over into the major purchasing options such as a new home or car. Despite the rise in house prices over the last year, home buying hopefuls and home movers are still keen on taking the leap and getting into a new property.
This optimism has a side effect that is positive for home owners as they will see a steady rise in their property values allowing for attractive remortgages and cash release remortgages. Interest rates are still low and could offer a long term savings with the right deal. Homeowners have been encouraged by experts to begin shopping for a remortgage soon before interest rates increase, which could be sometime this year. It would be the first time the Bank of England has increased the standard base interest rate since March 2009.