Plenty look but few buy

Rightmove recently announced that they had received a record number of visitors to the site, over 34 million pages of traffic, in just one day.  This is the not the first time Rightmove  have broken their own record, they reached 33.4 million pages on January 3rd.
Rightmove holds the largest market share of the top four property portals with 84 per cent market share.
Miles Shipside, Rightmove Director, commented:
“It seems like a popular New Year’s resolution must be to move home in 2012. The obvious next step for the British public is to jump on to Rightmove to see if they can turn their resolutions into reality.
The record traffic on Rightmove is also an indicator of underlying demand, if and when the mortgage famine should ease.”
Could this early activity be a sign that if, as Mr Shipside’s comments suggest, the mortgage “famine” eases we will see an increase in market activity?
It is unlikely that this record will see a dramatic increase in transaction levels.  Rightmove’s record in January 2011 was 28 million pages of traffic and the figures for Land Registry applications show a decrease in transaction levels of 9 per cent, from 721,089 in 2010 to 651,912 for 2011.
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