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Online Buying - Why Pay More Because of Your Postcode?
13/10/07
Oodle, a new way to shop online classifieds, has announced the
UK launch of the Oodle Index, a comprehensive real-time price guide
for classifieds that helps consumers better understand pricing
trends and find hidden bargains for used cars and property.
Typically, classified listings are spread across hundreds of sites
with widespread differences in asking price – even across the same
product. For example, according to Oodle Index, a 2005 BMW 3-series
in good condition with 30,000 miles on the clock in London will cost
you £19,257. The same car in Birmingham will cost £16,500, and in
Edinburgh, it will set you back a whopping £23,513 – 42 percent
higher with a price difference of £7,013.
Those looking to buy or rent property can use the Oodle Index to
find averages prices along with the amount of properties for sale or
rent in any given area. Searches can be further refined based on
neighbourhood and by the number of bedrooms and bathrooms. Users can
evaluate whether their new home purchase is possible if they move
just a few miles further outside their selected area or even the
other side of the country.
For example, the average price for a 3-bed house in Liverpool is
just £112,500 compared to a 3-bed house in Manchester at £153,003.
Yet, if you were also considering a 4-bed house in either city, the
prices are only £2,000 apart and there are 400 on the market in
Liverpool compared with 215 in Manchester.
Oodle Index also makes it possible to find the most popular cars in
each city. For example, Manchester appears to have more luxury cars
than Liverpool:
Manchester vs Liverpool
1 BMW 3-Series / Vauxhall Astra
2 Ford Focus / Vauxhall Corsa
3 Ford Transit / Ford Focus
4 Mercedes C-Class / BMW 3-Series
5 Vauxhall Astra / Vauxhall Vectra
The Oodle Index searches across three million classifieds in the UK,
providing price comparisons in real-time, as opposed to other
sources that use annualised averages. The data also shows whether
individual listings are above or below the average market price and
by what percentage. The strength behind the Oodle Index is the
proprietary technology which analyzes and compiles the data to give
consumers what is possibly the most accurate pricing data there is.
“The British consumer is already savvy to the benefits of comparing
pricing over the Internet, but when browsing online classifieds they
typically have to spend a lot of time up-front to understand
reasonable pricing for their purchase or sale,” said Duncan Dunlop,
Oodle UK General Manager. “With the Oodle Index, anyone can easily
compare prices at the touch of a button. We aim to make online
classified shopping more transparent to the consumer so that they
can get the best deal possible.
“Research estimates that Internet sales will reach £40billion this
year and it is forecasted to quadruple by 2020 when it will account
for almost 40% of all UK retail sales,” continued Dunlop. “With
Oodle Index we are giving online shoppers the same access to
information as the motoring trade or property business.”
Nick Gibson, editor
© Copyright Screen-Studio.com
2007
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