Google plans UK property portal

| December 3, 2009 | 0 Comments

Google is said to be developing plans to launch a property portal in the UK that would compete with Rightmove.

According to a report in the Financial Times, talks are progressing with estate agents and listings on the new site could be free, unlike Rightmove’s, with revenues generated from advertising.

Rightmove currently operates the UK’s largest property portal and claims to advertise around 90% of all homes for sale.

Meanwhile, rival website is predicting that 2010 will be a year of “consolidation rather than fireworks” for the UK housing market, with house price growth likely to be in the region of -2% to +4%.

The firm expects pent up need for people to sell to affect the market in January and February, resulting in a 10% surge in stock that could create further price dips across the UK.

FindaProperty director, Michael O’Flynn, ends the report on a cheerful note saying: “Confidence is on the rise as the UK is looking set to come out of recession in Q4 of this year, and with a general election approaching in May we could see a real improvement in sentiment which would quickly filter through to the housing market.”

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