Onthemarket shares leap 53 per cent after £99m takeover deal as rival Rightmove falls October 19, 2023 Onthemarket shares made their biggest one-day jump on record after the UK property portal was snapped up by American commercial property giant Costar in a £99m deal, while rival Rightmove slumped. The London-listed stock rose as much as 53 per cent on Thursday morning to 108p. The takeover is the latest in a series of [...]
Rightmove reports highest first-half revenue since 2018 despite mortgage market woes July 28, 2023 Online real estate company Rightmove clocked up its highest first-half revenue since 2018, it revealed on Friday, despite a troubled mortgage market putting pressure on house prices. The business said revenue was up 10% to £179.5 million in the six months to the end of June. Pre-tax profit rose 7.5% to £130 million. “The strength [...]
Average house price rises to £366,000 as tenants look to escape rental crisis April 24, 2023 UK house prices jumped again in March, driven higher by soaring rents pushing tenants to seek out their first home, but further interest rate hikes by the Bank of England could send a chill through the market, new research out today shows. The average price of a property coming to market in Britain hit £366k [...]
London asking rents hit record high with fierce competition set to persist into 2023 January 27, 2023 Average asking rents in London have hit a record £2,480 per month amid fierce competition for properties in the capital, according to property website Rightmove. The average asking rent in London jumped 15 per cent annually to reach £2,480 at the end of last year, while asking rents in inner London climbed even higher to [...]
Nervous buyers see house prices fall in largest monthly dip in four years December 12, 2022 House prices have fallen in the largest monthly dip in four years due to buyer nerves in the wake of economic and political turmoil. The average price of a house coming to the market is down £7,862 this month, a drop of 2.1 per cent, according to Rightmove’s latest house price index. The average price [...]
Monthly mortgage payments top £1,000 as homeowning costs pile up August 15, 2022 The average monthly mortgage payments for first-time buyers putting down a 10 per cent deposit have climbed past £1,000 for the first time, according to property site Rightmove today. The latest interest rates rise of 0.5 per cent has piled further pressure onto new buyers’ affordability, as property costs outpace annual wage packets. “It’s likely [...]
Rightmove’s profits and revenue up while average of 1.5bn minutes spend on site a month July 29, 2022 Renting site Rightmove had a spike in both profits and revenues in the first half of the year, as customers spent an average of 1.5bn minutes on its site per month. It raked in £162m in the first half of the year, up nine per cent on 2021, while its operating profit was at £121.3m, [...]
House price growth slows with real estate sector warning of affordability crunch for buyers June 20, 2022 The pace of house price growth slowed in May, with potential buyers’ tightening budgets set to slow growth further in the months ahead. According to today’s Rightmove’s house price index, buyer demand for available properties was down eight per cent last month, versus April. Even so, the price of property smashed another record, for the [...]
Average house price surpasses £367k as first time buyers face increasingly difficult landscape May 23, 2022 It is now no longer significantly cheaper to rent than buy, in terms of monthly outgoings, new analysis by RightMove has shown. While average monthly mortgage payments (£901) outpace average monthly rental payments (£887), the gap in payments has slimmed over the past decade. The property platform’s new analysis tracking first-time buyer affordability is based [...]
Rightmove chief Peter Brooks-Johnson to step down after more than 16 years May 9, 2022 Property firm Rightmove has said chief executive Peter Brooks-Johnson plans to step down after more than 16 years with the firm. Brooks-Johnson will leave the group over the next year, but will remain in the role until its full-year figures are unveiled in February 2023 and will help with finding a replacement and ensure a [...]