Traffic figures show effect of credit crunch on property market
E-commerce
11 September 2008
New web traffic figures released by Hitwise have illustrated the extent to which the credit crunch has impacted on the UK property market.
While traffic to property websites accounted for just 0.55 per cent of all British web visits last month compared with 0.85 per cent a year ago, the equivalent figure for sites in the retail house and garden category rose from 0.49 per cent to 0.59 per cent.
Hitwise UK research director Robin Goad said that this reflects the fact that fewer people are able to buy a property in the current economic climate, with Britons instead choosing to stay put and improve their homes.
"One of the factors behind the success of house and garden retailers online has been increase in online DIY queries as people look improve their accommodation on a budget," he went on to explain.
The most popular such query last month was 'how to plaster', according to Hitwise's statistics.
Separate Hitwise figures released this week show that paid search accounted for 9.1 per cent of all traffic to property websites in August, falling below the overall 10.9 per cent average for all industries.
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