Property Searches Could be Indicator of Continuance of Strong Demand from Buyers
Home buyers are still showing strong demand for property and if the search for an adequate and desirable property is any indication of future purchases and mortgage lending then the recent report from Zoopla shows that the high demand trend will continue. Zoopla, an online property search site, reported record levels of visitors in the first of the year.
In connection with Zoopla’s other company owned sites, Primelocation, SmartNewHomes and HomesOverseas, the report from Zoopla revealed a 37% increase in visitor traffic to all four sites in the six months to March 31 with 39.9 million monthly visits. The data includes mobile app visitors as well as those searching directly on the Web site.
While the majority of visitors to the sites may be seeking out property there is the possibility that some of the visitors are homeowners. There was a recent report that homeowners are using property listing sites to determine the values of their homes. This has become a sometimes daily or weekly event for a homeowner to check their property value and how much equity has been acquired since the last check of the site.
Homeowners seeking this data are watching for their equity to be regained that was lost during the recession. Other homeowners may be checking to determine if they are out from being underwater with a mortgage debt more expensive than the actual value of their home. While, some homeowners are likely checking to determine if their equity is at a level that will give them more cash release in a remortgage.