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Rightmove reports record searches for new homes as supply slumps

‘Pent-up demand’ coincides with number of new homes for sale slumping to lowest level for more than a decade

A property website has experienced record search activity over the new year but “pent-up demand” has coincided with the number of new homes for sale slumping to the lowest level for more than a decade. Rightmove predicted a “challenging” year, with “winners” including buy-to-let investors in the booming rental sector and people selling properties “with a difference”. Rightmove said there were 44m searches in the first 10 days of 2012, a 27% increase on the same period last year, while the reluctance to sell was reflected in the lowest level of new supply that Rightmove has ever recorded. PA © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds