Rightmove continues to see growth in membership numbers amid improving conditions in the UK property market, as listings hit a 10-year high on its portal.
The company is still forecasting revenue growth between 8% and 10% this year compared with a year earlier, supported by growing membership numbers, as well as improving revenue per advertiser.
Rightmove’s latest trading update, which covers the first four months of 2025, ending 30 April, shows a 5% year-on-year increase in new buyer demand.
New property listings were up 9% compared with the same point in 2024, while sales agreed rose 7%.
Since the start of April, available listings have risen to a ten-year high, and at the end of the month were 13% ahead of the same point last year.
In the lettings sector, there remains a clear supply-demand imbalance, with rental prices continuing to grow.
Rightmove said there were an average of 11 inquiries per available property in the period, lower than the equivalent period in 2024, but still double pre-pandemic levels.
Rightmove’s chief executive, Johan Svanstrom, said: “We’re pleased to have started 2025 with good financial, operational and strategic momentum. In particular, we’re making strong strides forwards in delivering new tools and products to make the property journey smoother for both consumers and our partners.
“In the current uncertain global climate, our UK-focused, subscription-based and B2B-oriented business model means that we are comparatively well insulated from the volatility that some other companies and industries are having to contend with. We look forward with confidence and are today reiterating our expectation of delivering 8-10% revenue growth this year.”
Read the orginal article: https://propertyindustryeye.com/rightmove-on-track-for-growth-with-solid-financial-operational-and-strategic-momentum/
