New research has revealed which of the most common home buyer and seller search terms have seen the biggest popularity increase in the past three months.
To discover how recent market and economic changes have affected the priorities and concerns of home buyers and sellers, House Buyer Bureau analysed 25 of the most common property search terms to see which have seen the biggest increase in their ‘interest score’ since the start of 2023.
The biggest growth in interest score since the start of the year has been seen with the term ‘Property chain’, rising by 51.4%, from 13.4 in January to 20.2 in April.
‘House quick sale’ has increased by 44.6%, from 9.8 to 14.2, while ‘Down valuation’ is up 39.6%.
Searches for ‘Asking prices’ (32.7%) and ‘Gazundering’ (0.3%) have also become more popular, while searches for ‘Gazumping’ have seen the largest decline, down 70.7% since the start of the year.
Chris Hodgkinson, managing director of House Buyer Bureau, commented: “There is no greater litmus test for consumer sentiment and concerns than the words they tap into Google. This data shows us clearly that sellers are anxious about the falling value of their home, and the fact that power has shifted towards the buyer in cooling market conditions.
“Due to the extent of which house prices boomed during the pandemic and subsequent stamp duty holiday, there is a chance that this period of cooling could last for some time, with a lack of buyer demand driven by the cost of living also causing prices to reduce.
“So it’s hardly surprising that many sellers are looking for a quicker way to sell in order to secure a price in the current market, before the value of their home drops any further.”
