Google Leaves UK Property Search Market

Recently, Google announced that it won't continue with its property search service.

On January, 28th, Google's spokesman said that the project will be abandoned in February because it was not used as extensively as the company wanted it to be. Also, it was relatively difficult to maintain.

The announcement by Google made many UK-based property agencies greatly relieved. Even though such companies as Rightmove, FindaProperty, Primelocation and Globrix said that they never viewed Google as direct competitors, it actually did pose certain threat to them. As such, Google property search service caused most US-based property firms lose 6% of their clients and could have done the same thing to British agencies.

It is important to note that shares of Rightmove rose by almost 5% right after Google announced it quits the property search market. In 2009, when Google first launched its property search service in Great Britain, the shares of Rightmove fell significantly, to below £5.