Hitwise, the Internet search intelligence company has reported that UK Internet hits to House and Garden retail websites have increased by 20.5% over the last 12 months despite the credit crunch and falling house prices. At the same time, UK Internet visits to estate agents and property websites have fallen by 35.2% - with the Royal Institution of Chartered Surveyors showing that, on average, UK estate agents are now selling just one property a week.
The credit crunch has hit online estate agents hard, but at the same time, the share of UK Internet visits to websites in the House and Garden category increased from 0.49% in August 2007 to 0.59% in August 2008, overtaking the Business and Finance Property category on the way.
Robin Goad, Director of Research at Hitwise, commented: “It looks as if people are choosing to improve their existing houses rather than move. The interesting thing about the growth in House and Garden retailers is that it applies both to DIY retailers, and furniture retailers. Both types of retailer have increased their share of Internet visits over the last 12 months.”
With the credit crunch effecting consumer spending, many analysts are reporting that consumers are not curbing their shopping habits, but are merely trading down, taking on jobs such as DIY which were formerly undertaken by a tradesman.
Subsequently, as UK consumers continue to look to improve their accommodation on a budget, UK Internet searches for the top 10 DIY-related ‘how to’ queries have increase
by 25% over the last 12 months. The recent top 10 DIY searches were reported as follows
