‘Dollar exchange rates and improving optimism drives 20% boost in searches’

Highlights

•  54% of locations saw increases in searches, 45% decreases, 1% no changes
• July overall searches up nearly 20% driven by increasing optimism in the economy
• Germany scores near 20% increase in market share
• Canada  increases market share by 16% with US not far behind as dollar rates improve

Commentary

Poor weather in July (more time indoors browsing), improving optimism in the economy and rising dollar exchange rates helped contribute to a 20% increase in overall searches for overseas property on Rightmove in July. Whilst the traditional destinations held firm at high level with relatively small changes in rank, activity further down the search tables was a lot more volatile, indicating healthy interest in alternatives.

Robin Wilson, Head of Overseas at Rightmove commented:

“A 20% lift in search volumes is a welcome boost to the market, particularly as we approach the off-peak winter season. Good Developers and Agents are managing to achieve cut-through, particularly with pro-active techniques like email campaigns to targeted subscribers, but despite improving sentiments for the economy, taking the plunge and buying abroad is still a big reach for many, so it’s important that properties and projects stand out from the crowd."

Commenting on the climbers and fallers in this month’s search chart Wilson said:

“Improvements in the dollar exchanges rates also saw corresponding increases in searches for locations in the USA and Canada, with easy to reach Florida the biggest beneficiary of British interest.

We flagged Germany as one to watch back in our May report and the consistent increase in search performance has earned it if not a ‘hot spot’, certainly a warm place to look at investing. You can pick up apartments in Bavaria for not much more than £30k which would be perfect for winter ski or outdoor summer pursuits.”

Search Data Highlights (download full PDF report)

Top 10 Climbers and Fallers this month (areas with > 100 searches a day)

Top 10 Trending^* Searches this month (areas with > 100 searches a day)

These are the locations showing the most consistent positive performance in searches on Rightmove Overseas.

*Chart Trend is a rolling average of the three previous monthly changes in chart position

Download the full Rightmoveoverseas Search Report

Editors Notes

This data is complied from searches made by users of www.rightmoveoverseas.co.uk during the period 1^st July to 31^st July 2009. Our website records explicit searches that users make for locations chosen from our map based search, or that are entered into search fields and includes tourist regions we have defined for ease of recognition. This month 49,489 locations received searches.

• % Change Searches is the % change in searches on the previous month
• Chart position is absolute and determined by aggregate search volume for that location i.e. all the explicit searches for the location plus any explicit searches for sub-regions of the location e.g. Searches for ‘France’ include searches for ‘Paris’.
• Monthly Chart Change is the difference in chart position on the previous month.
• Quarterly Chart Change is the difference in chart position from 3 months ago.
• Yearly Chart Change is the difference in chart position from 12 months ago.
• Chart Trend is a rolling average of the three previous monthly changes in chart position.

The data in this report does not constitute specific advice, forecast or recommendation and is for general interest only. Readers must perform their own research and seek independent professional advice before making any decision to purchase or invest in property abroad.

About Rightmove Overseas

Rightmove Overseas is part of Rightmove.co.uk, the UK’s number one property website and advertises properties for sale in over 90 countries around the globe from both agents and owners. On average, Rightmove Overseas receives 80,000 unique visitors a week and generates over 1,000,000 overseas property searches a month for advertisers. Visit us at www.rightmoveoverseas.co.uk.