A Google for the property market?

A new property search engine, Globrix, aims to become the place where people look for properties online. It has several advantages. Firstly, it does not carry content itself like an ordinary property portal but 'scrapes' the data from estate agents' websites then redirects users back to those sites once they've clicked on a property. This means that it should be able to list all the properties advertised online in the UK rather than just those from participating agents. Secondly, its search facility is sophisticated, allowing house hunters to be very specific about what they are looking for - homes near railway stations, for example, or with pools. Globrix has the added advantage of having a few million quid in its back pocket courtesy of News International. But it aims to be funded entirely by advertising, and that's where the risk lies. Launching in the teeth of a severe house price slowdown is unfortunate as estate agents are likely to reduce online advertising budgets in 2008. Let's hope Globrix survives because consumers could certainly do with a comprehensive property search engine that works. Click here to read my profile of Globrix founder, Daniel Lee, in New Media Age magazine.