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Rightmove hit as Google enters UK housing market

According to Sharecast, Rightmove shares dropped by 10% due to Google moving into the UK property market.

Google has shown great interest in the UK after opening a property portal in Australia earlier in the summer. The Google Search will combine its Google maps and the infamous street view along with Estate agents details and house photos.

Google on the UK housing market

Google on the UK housing market

Google is expected to launch the houseing market site in the UK in early 2010. It will make it incredibly difficult to charge any fees when Google can give such a massive coverage for next to nothing. Rightmove currently charges an average customer just over £300 for it’s services.

Rightmove claim it isnt necessarily a threat to its position, but the market thinks otherwise.

This all comes at a difficult time for Rightmove. This year in the UK, property-related advertising revenues plummeted due to a combination of online competition and the housing market slump.

posted by Zane in Buying,Estate Agents,For Sale,Housing,Mortgage,Property,Renting,Rightmove and have Comments (5)

5 Responses to “Rightmove hit as Google enters UK housing market”

  1. wellg says:

    I Don’t Believe It !

  2. Victoria Knight says:

    Victoria Knight is a vibrant, up and coming agent who is fast becoming top competition to all leading estate agents in East London. Our purpose is to provide dynamic and outstanding services to our clients to enable them to maximise return on investment.

    With their trendy “café-style” offices they offer a professional service on a more friendlier level with offices already located in Stratford and Walthamstow.

  3. […] Though may not appear to have upfront fees, you will in effect pay for the privilege through the fees your estate agent charges on completion. With Tepilo there are no agent fees to pay. Look out for another challenger this year from Google. Related Article: Rightmove hit as Google enters UK housing market […]

  4. symmeld says:

    I without a doubt adore all your posting choice, very interesting,
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  5. Shane says:

    When Google do something they tend to go into it fully, If I were Rightmove I would be concerned.

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