New data shows that online interest in property portals have dropped as the housing market cools.

As the interest in hybrid working spaces increases, the UK’s leading online property portals have seen activity decline over the first half of 2022. These portals saw a surge in interest last year due to the stamp duty holiday and covid restrictions being decreased.

Compared to 2021 the volume of online searches for ‘Rightmove’ fell by 9%, searches for ‘Zoopla’ decreased 20% and for ‘Yopa’ by 12%. In 2021 all three brands saw online activity surge compared to 2020, with searches for Rightmove increasing 29%, Zoopla and Yopa both up 24%.

In comparison to 2021, interest in other portals also fell this year, searches for ‘OnTheMarket’ fell by 14%, ‘Boomin’ dropped by 25%, ‘PrimeLocation’ by 27% and ‘Purple Bricks’ by 3%.

MediaVision, an online search expert, carried out the analysis using its propriety Digital Demand Tracker tool that analyses search data from Google Trends and AdWords.

The data also discovered that interest in companies providing shared work spaces continues to increase as businesses have been looking for new approaches to hybrid working. In the first 6 months of 2022, online searches for ‘WeWork’ rose by 144% compared to last year, and searches for ‘Workspace’ rose by nearly a third.

The UK’s leading commercial property agents saw an increase in online interest this year as consumers and shoppers begin to return to the high street and commuters go back to the office. Searches for ‘CBRE’ rose by 20% in the first six months of the year compared to 2021, while searches for ‘Bidwells’ increased by 32%, ‘Carter Jonas’ are up by 8% and searches for ‘Cushman & Wakefield’ rose by 19%.

Louis Venter, CEO at MediaVision said: “No one benefitted from the surge in demand last year more than property portals. The uptick in performance and interest was significant, but this year a decline in brand searches more accurately reflects the market.”

“Reports across the board indicate that properties are taking longer to sell in 2022. Combined with a lack of stock driving continued house price growth, it means portals are seeing online activity plateau and, in many cases, fall away’” he added.

Venter concluded: “Of course, the number of people engaging in hybrid working has increased dramatically this year and the growth of interest in flexible co-working spaces highlights that demand.”