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Summary:

The Propertyfinder home search site is buying HotProperty.co.uk operator Sherlock Publications for £5.6 million, uniting the two under the…

The Propertyfinder home search site is buying HotProperty.co.uk operator Sherlock Publications for £5.6 million, uniting the two under the growing real estate interest in Rupert Murdoch’s News Corp (NYSE: NWS) as it squares up to market-leading RightMove.co.uk.

News Corp and RealEstate.com.au bought Propertyfinder for £14 million in 2005 and News International made a “multi-million” investment last year in search ads-supported free property listings startup Globrix.

Sherlock, which started out by publishing its HotProperty and Rental magazines in 1995, claims 1,300 listings customers and 170,000 listings. The acquisition is all about challenging RightMove.co.uk. Propertyfinder said the acquisition of the number-six UK property site makes it number-two to the leader and means both its customers and those of HotProperty.co.uk can get listed at each site for one cost.

With the rate at which news publishers have been buying property sites over the last few years, to shore up their falling print classifieds, it’s a wonder there are any left to acquire. With repossessions rising and house prices set to reverse amid tougher economic conditions, this year could prove an important one for the sector.

  1. LOOK4APROPERTY.COM is another one to watch!

    They are about to launch something VERY BIG soon and the site lists over 100,000 UK properties for sale and rent!

    They receive over 1m visitors a month and they have "clever" plans to topple rightmove.

    They are about to start giving away £1,000 CASH BONUSES to the first 100,000 people who sign up for an account, as well as having a £1m cash giveaway prize draw like Confused.com.

    The first 100,000 people will be entered in to the prize draw!

    I'm checking the site daily to see when I can register!

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  2. so http://www.look4aproperty.com is the one to watch!

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