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June 10, 2008

Britain is a nation of property addicts

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by Kay Mitchell

Britain is a nation of property addicts

According to research released by Globrix, thousands of Britons spend hours searching for properties they could never afford.

The research, undertaken by YouGov, surveyed 2053 UK adults and established that almost 40% of Britons regularly browse the internet looking for property, while 14% property website users confess to spending over an hour each week searching for homes online. 1% admit to spending over 3½ hours a week looking at homes on the internet.

Globrix discovered, however, that much of the time spent online isn’t even used looking for a home. 38% use property search sites to find out how much their neighbours’ house is worth, while 22% spend their time looking at dream properties they could never afford.

Dan Lee, chief executive of Globrix, said everyone knows that the UK’s property crazy, you just need to look at the TV schedules for proof of that.

What this research shows is that the web is now just as important as the TV when it comes to property entertainment, whether you’re looking for your next real home or for inspiration in your dream home, added Mr Lee.

The new generation of property websites gives people more choice and more information than ever before. This means that, whether you’re a real house hunter or a dream home surfer, you’re going to have access to the widest possible range of properties and data, concluded Mr Lee.

Globrix, founded in 2007, covers hundreds of thousands of properties for sale or rent in the UK and it allows the user to search for property by a huge range of criteria such as price, region, outside space, parking or period.

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