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  • Technology

    Rightmove posts record results



    Rightmove increased its profit margin to 75.1% last year, up from 74.5% in 2014, it announced this morning.

    Revenue was up 15% at £192.1m, with underlying profit up 16%, to £144.3m. Market share among the top four property portals was 77%, up from 74% at the start of last year.

    Rightmove also raised its dividend to shareholders by 23% to 27p.

    Average revenue per advertiser – mostly estate agents – was up, at £754 per month compared with £684 the year before. The number of advertisers on Rightmove was also up, by 2%, to stand at a record 19,752. The site had almost 50% more properties listed on it than any other portal, with 1.2m properties displayed on December 31 2015.

    Visits and leads were also up, with a record 1.3bn visits last year (a rise of 18%), with a record 49.8m leads generated for advertisers, compared with 42.8m the year before – a rise of 16%.

    CEO Nick McKittricksaid: “Rightmove celebrated its 15th birthday in 2015 and together with the support of nearly 20,000 customers, it has changed the way Britain searches and researches property.

    “Our property stock advantage coupled with our brand strength and innovation have substantially increased our audience size and engagement this year.

    “We attracted 200m more visits in 2015 as more people came to search and research the only place with a million properties for sale and to rent in the UK.

    “We help our customers succeed by delivering great value marketing and by helping drive business efficiencies. We have grown our customer base by 2% during 2015 to a record high and continue to build broader relationships to support customers’ ambitions.

    Full/source story

    In other RM news .... 

    Rightmove data reveals new property hotspot

    Dartford in Kent has become the fastest place to sell a property across Great Britain, according to new Rightmove data.

    Dartford homes are taking just 16 days on average to secure a buyer, down from the average of 49 days in January 2015, making it a veritable property hotspot!

    This is dramatically shorter than the UK national average of 79 days.

    Related content:

    Rightmove vs. Zoopla - getting the most out of the property search portals

    Rightmove - a monopoly operation?

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    Rightmove have posted another year of record results.

    Highlights:

    Record traffic meant that in the first half of the year, Rightmove attracted over 3,000 visits every minute – a record total of 790m visits in six months.

    Rightmove also had one third more properties listed on it than any other portal, saying it listed 1.1m properties – almost the entire market. 

    Overall, revenue rose 11% to £119.5m, with underlying profits up 11% to £91m, and operating profits up 9% to £87.6m. Its operating margin was 76.2%.

    Full/source article - Property Industry Eye

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