Domain name purchase inquires have surged significantly in the past few months. In the past 2 months since the beginning of the COVID pandemic offers on domains through DomainAgents is up 20% compared to last year.
Nominet, a UK local registry, recorded an increase in domain name registrations in April as compared to March. April is normally a pretty quiet month at Nominet so this was an unusual spike.
Here in Australia auDA reported that “the biggest month for new domain name creations we’ve seen in a while” with almost 49,000 new domain names registered.
However, auDA also reported that the overall registration of .com.au domain names fell due to a lower renewal rate for names registered in March/April of last year.
However, it’s too early to tell if this surge will continue.
It seems that the spike, yet overall fall in numbers of renewals, can be explained by the large number of people starting online businesses during the COVID pandemic because of all of the layoffs. Yet simultaneously many businesses seem to be letting go of unused domain names or narrowing their focus to save money.
“…budgets will certainly continue to face pressure as people and businesses continue to adapt. How domain name values move over the next year is difficult to predict, but right now the market seems strong.”