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Pricing in the online housing market

Rightmove and zoopla have turned the housing market into a concentrated selling environment, where vendors can reach every buyer and buyers can see every house. It moves fast too; houses that used to take months to be found can now go under offer in hours.

But one by-product of a market made up of such perfect information is that it has become more price sensitive than ever. 

Buyers have a huge choice of homes to select from but only enough time to visit seven (on average) before they make an offer. A house only has to be the eighth most appealing in its price bracket to miss the market.