UK property sales slide ahead of election
Thu 21 May 2015
Milennials are driving the search for property online in emerging markets, according to new research fromLamudi.
The portal's data shows that the majority of users accessing the site, which advertises properties in emergingmarkets such as Asia, Africa, the Middle East and Latin America, are aged between 18 and 34,.
Data from Lamudi Indonesia reveals that 65 per cent of all sessions since January 2015 came from the millennialage bracket, followed by 35 to 44 year olds (14.5 per cent). Indonesia has a very young population, with a medianage of 29 years old, thus a large percentage of the population is only now searching for its first real estate
As the real estate industry in Myanmar is increasingly affected by the shift online, more people are discoveringthe advantages of using the Internet to find property. Lamudis data reveals that 59.9 per cent of sessions thisyear are being carried out by 18 to 34 year olds, made up predominantly of those between the age of 25 and 34.
Paul Philipp Hermann, Co-Founder and Managing Director of Lamudi Global, says: "The shifting demographics inthe emerging markets are very important for the real estate industry. Many of these countries have a youngpopulation, who have grown up with technological advances and are more comfortable using the Internet in
"The millennial generation is spending more money on consumer goods, and is more enthusiastic to spend timeand money on technology. This presents an exciting opportunity for real estate professionals in emergingmarkets, who now need to strengthen their online presence to conquer the growing Internet community." Buyersand sellers held their breath in the run-up to the UK general election this year, with sales stalling.
Seasonally adjusted data from HMRC shows that residential UK property transactions totalled 97,020 in April2015, down by 3.4 per cent from March 2015 and 5.6 per cent lower year-on-year.
Peter Rollings, CEO of Marsh & Parsons, comments: "Only a month ago, buyers were waiting with baited breathto see which way the wind would blow after the general election, and this political anxiety clearly stalled housingmarket activity momentarily. Not many would have predicted an outright majority government, but the conclusiveelection result has launched a rocket of confidence in the property market, with buyers and sellers able to act withcertainty again."