REA raises Rightmove bid to £6.1bn as it slams ‘lack of engagement’ Tech Australian property group REA has upped its takeover bid for Rightmove to £6.1bn, saying it is “genuinely disappointed” with the lack of engagement from the company so far. Earlier this month, Rightmove snubbed a £5.6bn offer from Rupert Murdoch-owned REA, saying it was “wholly opportunistic” and undervalued the British property portal. On Friday, the Rupert [...]
How Rightmove became London’s (and the FTSE 100’s) most profitable company Property From an unknown tech start-up to the undisputed king of the UK’s online property sector, Rightmove is a shining example of how to turn a simple idea into a whole lot of profit. In its most recent full-year results, the London-listed property portal astounded investors by revealing it had achieved a record 71 per cent operating profit margin – [...]
Rising London rents are ‘a pressure cooker ready to explode’ as home ownership ‘inching out of reach’ “A pressure cooker ready to explode” is how one expert has described the current situation in the UK housing market as data showed rents jumped close to 10 per cent in London over the past year. In fresh data released this morning it was revealed that average UK private rents increased by 8.6 per cent [...]
Property Franchise Group heralds ‘transformational’ growth after Belvoir deal August 7, 2024 The Property Franchise Group (TPFG), which operates brands including Hunter’s and Ellis & Co, has announced booming revenue following the acquisition of Belvoir and Fine & Country. Aim-listed TPFG, which merged with Belvoir earlier this year in a £110m deal , is the UK’s largest multi-brand property franchiser. The deal appears to have paid off, with group revenue [...]
Rightmove urges Reeves to keep stamp duty threshold for first-time buyers as it posts ‘solid but uninspiring’ results July 26, 2024 Property giant Rightmove has called on the Government to retain the stamp duty threshold for first-time buyers, as it announced a solid but “uninspiring” set of results. Revenue at Rightmove rose by seven per cent to reach £192.1m, “as both agents and new homes developers renewed contracts, upgraded their packages and invested in additional products”, [...]
‘Steady picture’: UK house prices increase at fastest rate since July 2022, as London rose slowest July 17, 2024 Expectations of a cut to interest rates and continued tight supply helped house prices to rise for the third successive month in May, the Office for National Statistics has said.
TPFG: London-listed property group has rosy outlook after a string of deals June 7, 2024 TPFG has built a big business in the property sector over the past few years.
Lendinvest: Property fintech ‘cautiously optimistic’ for return to profitability in 2025 April 18, 2024 Property fintech LendInvest has said it expects to report full-year results in line with market expectations and is "cautiously optimistic" for a return to profitability in 2025, as the mortgage market rebounds.