Alma Media Corporation Press release 7 September 2016
ETUOVI.COM: ONLINE INDICATORS OF DEMAND POINT TO A BUSY AUTUMN IN THE HOUSING MARKET
Demand in the housing market is showing signs of recovery according to statistics collected by Etuovi.com. Indicators that can be considered to reflect demand in the housing market include, for example, the number of visits to online marketplaces for real estate and the number of times individual listings are accessed. Both indicators showed substantial growth at Etuovi.com in August. The website received a record-high 8.6 million visits during the month, and listings were accessed 18% more times than in the corresponding period last year.
The number of residential property searches made on the website was significantly higher compared to both July 2016 and August 2015. The increase in demand was seen across all types of housing, including flats, terraced houses and detached houses, and growth was observed throughout Finland. The number of contacts relayed in August from potential buyers to sellers at Etuovi.com was higher than in any previous one-month period.
- The large number of contacts in May was directly reflected in the number of transactions completed in June. It will be interesting to see whether the high level of online activity predicts an increased volume of transactions in the near future, says Heikki Huttunen from Etuovi.com.
The number of listings for residential properties for sale also increased in August. During the month, there were a total of 91,905 properties for sale at Etuovi.com. In spite of the increased number of listings, users also set significantly more alerts for their property searches in August than they did in July.
- This is a positive signal for the housing market for the entire autumn—it indicates there is a lot of demand in the market that has yet to find the right property to buy, and this demand can be expected to materialise in the form of completed transactions throughout the autumn as suitable properties appear on the market, Huttunen explains.
According to the Consumer Barometer by Statistics Finland, consumer confidence in the economy was stronger in August than it has been at any point in time since May 2015, which supports the expectation of modest growth in the economy and the housing market in 2016.
- The statistics collected by Etuovi.com and consumers’ increased confidence in their own economic situation mean we can expect a favourable autumn in the housing market, Huttunen adds.
Etuovi.com is Finland’s most popular online housing service. It is part of Alma Media’s Alma Markets business unit, which includes several online services related to housing, recruitment, the automotive industry and tourism, such as Vuokraovi.com, NettiKoti and Kivi, Monster.fi.com, Autotalli.com, Autosofta.fi and Autojerry.fi, as well as Gofinland.fi.
Heikki Huttunen, Business Director, Alma Mediapartners, tel. +358 10 665 3423
Etuovi blog: http://www.etuovi.com/blogi/2016/09/07/etuoven-elokuu-2016-ennustaa-asuntokauppa-vilkastumassa-syksylla-2016/
Alma Media in brief
Alma Media is a media company focusing on the service business and journalistic content. The company’s best-known brands are Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities of digitality, including information services, system and expert services and advertising solutions. Alma Media’s operations have expanded from Finland to the Nordic countries, the Baltics and Central Europe. Alma Media employs approximately 2,500 professionals (excluding delivery personnel), of whom approximately 30% work outside Finland. Alma Media’s revenue in 2015 was EUR 291.5 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.