Regional press to suffer as net poaches property ads

By Dominic Ponsford

The chief executive of one of Britain’s largest estate agencies has warned of tough times ahead for the regional press.

Harry Hill, group managing director of Countrywide, believes that
property advertising is set to migrate to the internet and that without
it, most regional newspapers would go bust.

He told property
magazine Sold Out: “The cost of advertising on the internet is
infinitesimally small compared to advertising in local newspapers.

“Perversely,
most agents would admit that they don’t advertise in the local
newspaper to attract buyers, they do it to attract their services to
sellers because quite a lot of people wanting to sell a home will look
in the local paper

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