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Developers Spending More On Advertising ?

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As a rule of thumb, when the housing market slows, developers spend more on advertising. All the big housebuilders gave warning over the summer in half-year trading updates that the second half was likely to be more subdued as five quarter-point rises in interest rates take their toll of buyer demand.

Rightmove’s figures bear testament to housebuilders’ concerns. Builders of new homes have spent far more than the typical estate agent - which does not actually carry the cost of a house on its books - on Rightmove’s new range of offerings. Since February a new three-tier system of advertising has been introduced, with those opting for Rightmove Choice paying far more to have their homes pushed up the pecking order to be displayed at the top of the results page, or “property of the week” front page click-through picture.

While one in five agents is now paying for the top-priced Rightmove Choice offering, as of today one in three housebuilders is paying for the top service, a step-up in numbers even since early summer, suggesting that housebuilders are gearing up for a tougher autumn.

The company also has 19 of the top 20 housebuilders signed up to its site, about double the number it boasted a couple of years ago, offering in total nearly 3,500 homes, compared with 1,550 just 18 months ago, as the builders search for as wide a pool of buyers in what could be a chiller winter for house-hunting.

Did the housing developers get to the stage of slashing prices in the last correction or was it static prices with cashback, free cars, free tv's etc ?

Did some housing developers just go under leading to a firesale of assets?

When did they start offloading their landbanks ?

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