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Rightmove reveals jump in revenues and profits

The figures reflect a slightly cooler market than last year, but still show a healthy performance from the portal.

David Callaghan

rightmove laptop

Rightmove has revealed a 9% jump in revenues to £162.7 million and a 6% rise in operating profit to £121.3 million.

The portal also announced the highest number of sales agents now signed up since 2016, although this was offset by a fall in lettings branches.

Overall membership numbers since the start of the year stand at 18,934, with 16,116 agency branches and 2,818 new homes developments.

Rightmove’s ARPA figures show a 12% increase at £132, and for new homes £117, up 9%. The company says this is due to increased product purchases and package prices.

The housing market remains robust despite the economic uncertainty, and agent numbers are likely to remain stable, the portal says.

Resilience

Link to Rightmove newsPeter Brooks-Johnson, CEO, (pictured) who is due to stand down in the coming months, says: “Our success during the first half of the year demonstrated the ongoing resilience of our customer base and the continuing love for and trust in our brand.

“Despite the housing market cooling slightly, activity on our platform was significantly higher than in the pre-pandemic market of 2019, with home-hunters using Rightmove for 1.5 billion minutes every month.”

July 29, 2022

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