Potential homebuyers search online

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by Kay Murchie

According to Globrix, the property website, prospective homebuyers are likely to search on the internet rather than visit an estate agency.

A report published in 2007 backs up the company’s statement as the percentage of househunters ready to do their homework online, or even purchase a property online, is on the increase.

A spokesperson for Globrix said the industry is responding with a growing number of estate agents investing heavily in their websites.

There a number of benefits for first-time buyers on the internet, they can find information about the various types of mortgages available and use mortgage calculators to see how much they can borrow.

For sellers, supermarket giant Tesco announced last summer it was to go head-to-head with estate agents and allow homeowners to sell their property online for a fee of £199.