Average price of .co.uk domain overtakes .com

The average price for a .co.uk domain has surged to £790

The average price of .co.uk domain names has surpassed that of .com domains for the first time, highlighting the increased focus among companies on regionally specific suffixes, according to domain name marketplace Sedo.

The firm's market study for the second quarter of 2009 found that the average price for .co.uk domains is £790, and that .com had dropped to £594. However, the highest bid for a single domain was talk.com, which sold for £303,994.

Despite .com domains representing more than three-quarters of all domain sales, according to the report, the .co.uk stats show that the UK is becoming more internet aware. Businesses increasingly realise the value of having a regionally specific suffix, according to Sedo business development director Nora Nanayakkara.

She added that firms are increasingly snapping up .co.uk domains to launch specific marketing campaigns. Pizza Hut, for example, bought pastahut.co.uk for its recent name change and image revamp.

"We have had a huge increase in local buyers as the UK becomes more internet savvy and businesses realise they cannot get away with having a .com," said Nanayakkara. "It is supply and demand: people are willing to pay an increased price to have a co.uk because .com is so general."