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Rightmove

Rightmove is a that operates the United Kingdom's leading online property portal, rightmove.co.uk, connecting prospective buyers, renters, and sellers with estate agents, letting agents, and new home developers through comprehensive listings of residential and commercial properties for sale and to rent. Founded in 2000 as a by major estate agencies including , , , and Royal & Sun Alliance, the platform initially offered free access to agents before introducing subscription fees in 2002, rapidly establishing itself as the dominant player in the UK market. The company went public on the London Stock Exchange in 2006, joining the and later ascending to the FTSE 100, with a of approximately £4.3 billion as of November 2025. Rightmove's growth has been marked by key milestones, such as reaching 10,000 estate agency members by 2006, returning £1 billion to shareholders by 2018, and surpassing £300 million in annual revenue by 2021, reflecting its powerful network effects and commanding over 80% of time spent on property portals. In 2024, the platform advertised more than 980,000 residential properties monthly, attracted 2.3 billion site visits, and recorded 16.4 billion minutes of user engagement, underscoring its position as the most visited website in the country. Rightmove generates revenue primarily through agency subscriptions (£279.9 million in 2024), new homes advertising (£69.2 million), and other services including valuations, mortgages, and commercial listings, achieving total revenues of £389.9 million—a 7% increase from 2023—while maintaining debt-free status and returning £181.7 million to shareholders via dividends and buybacks. Headquartered in , the company employs approximately 880 staff and is led by CEO Johan Svanström, with a mission to make home moving easier and simpler through innovative tools, data insights, and trusted expertise. Notable for its efforts, Rightmove has been carbon neutral since 2019 and targets by 2040, while recent accolades include Tech Business of the Year at the 2024 PLC Awards and recognition as a top in 2025. In November 2025, Rightmove faced a potential £1 billion class-action from estate agents alleging unfair and excessive subscription fees.

Company overview

Founding and headquarters

Rightmove was established in 2000 as a between four leading estate agencies—Countrywide, Connells, , and Royal & Sun Alliance—with the goal of creating the country's first major online portal to centralize listings and streamline the home-moving . The was formalized through the incorporation of Rightmove.co.uk Limited on 16 May 2000, registered in under company number 03997679. The rightmove.co.uk website launched later that year, initially providing free listings to estate agents to rapidly build a comprehensive database of and attract users seeking simplified access to housing options across the . This approach reflected the company's early vision of making property searches and transactions more efficient for consumers by bridging the gap between potential buyers, renters, and sellers through a unified platform. Rightmove maintains its headquarters at 2 Caldecotte Lake Business Park, Caldecotte Lake Drive, , MK7 8LE, , where the parent entity, Rightmove (registered in under company number 06426485), is also based.

Market position and scale

Rightmove holds a dominant position as the UK's largest , commanding over 80% of the time spent on portals by consumers. In 2024, the platform listed an average of over 980,000 monthly, encompassing residential sales and rentals advertised by estate agents nationwide. This extensive inventory, combined with its status as the primary destination for searches, underscores Rightmove's central role in the UK housing , where it facilitates the majority of online listings and buyer inquiries. The company's scale is further evidenced by its robust user engagement metrics, attracting 2.3 billion visits in 2024, with users spending 16.4 billion minutes on the that year. These figures highlight powerful network effects, as high traffic volumes draw more estate agents to the —over 19,000 members, including 16,382 agency branches and additional new homes developers—creating a self-reinforcing that enhances visibility for listings and accessibility for consumers. Rightmove's 80%+ in online property searches solidifies its competitive edge, outpacing rivals like Zoopla and by leveraging superior audience reach and retention. As a FTSE 100 constituent, Rightmove maintains a of approximately £4.4 billion as of November 2025, reflecting investor confidence in its market leadership and operational stability. This positioning not only amplifies its influence on pricing transparency and market trends but also supports ongoing innovations in search functionality and , further entrenching its dominance.

History

Launch and early years

Rightmove.co.uk was launched in 2000 as a by the UK's leading estate agencies—Countrywide, , , and Royal & Sun Alliance—to create a centralized online platform for property listings. The website initially offered free listings to attract estate agents and users, aiming to consolidate fragmented property advertisements in an era when online searches were novel and adoption was limited. This strategy rapidly built a user base, with the site reaching over 100 million page views per month by 2004. In 2002, Rightmove transitioned to a paid model by introducing charges for property sales advertisements, marking it as the first major property website to monetize listings in this way. That same year, the company launched the Rightmove , a monthly report tracking average asking prices based on listings data, and extended services to new home developers through its New Homes platform. These innovations helped solidify Rightmove's role in providing market insights and specialized advertising, while rental listings remained free until charges were added in 2005. By 2004, the platform had grown to include 6,000 agent members, representing approximately 50% of all estate agents. The were marked by significant challenges in fostering trust for searches amid the nascent internet landscape and the 2001 dotcom crash, which heightened skepticism toward digital ventures. Real estate professionals and consumers alike resisted shifting from traditional methods due to concerns over data accuracy, security, and the reliability of virtual viewings, requiring Rightmove to leverage its founding partnerships for credibility and demonstrate value through consistent traffic growth.

Public listing and growth

Rightmove went public through an (IPO) on the London Stock Exchange in March 2006, with shares initially priced at 335p and closing the first trading day at 392.25p, marking a 17% gain. The listing valued the company at approximately £470 million and facilitated its inclusion in the shortly thereafter. By that year, Rightmove had expanded its network to include its 10,000th estate agency member, solidifying its position as the dominant player in the UK online property market. Prior to the IPO, Rightmove began monetizing its rental listings in by introducing charges for advertising properties to rent, shifting from a primarily free model for certain segments to a more comprehensive paid structure that supported sustained . This transition contributed to ongoing growth in user engagement, as evidenced by increasing traffic and interactions on the site. Following the public listing, the company experienced robust organic expansion, with revenue surpassing £100 million for the first time in alongside annual page impressions reaching 11 billion, which positioned Rightmove as the sixth most visited in the at that time. These metrics underscored the platform's scale and its central role in the property search process, with over 80% of agents actively using the service by the early . The period from 2006 to 2015 highlighted Rightmove's ability to leverage its IPO capital for technological enhancements and , driving consistent revenue growth through higher average revenue per advertiser and expanded product offerings. By 2018, cumulative cash returns to shareholders, including dividends and buybacks, exceeded £1 billion, reflecting the strong financial trajectory established in the post-IPO years.

Acquisitions and recent developments

In 2016, Rightmove achieved a significant milestone when its group revenue surpassed £200 million for the first time, reflecting robust growth in its property portal services. That same year, the company acquired The Outside View Analytics Ltd., a firm, to enhance its data capabilities and provide deeper insights into housing market trends. Rightmove expanded its landlord services portfolio in 2019 by acquiring Van Mildert Landlord and Tenant Protection Limited for an initial £16 million, with additional deferred consideration up to £4 million based on performance; this move strengthened offerings in tenant referencing and rent guarantee insurance. Earlier, in 2007, Rightmove had taken a 67% stake in Holiday Lettings Limited to bolster its holiday rental listings, though it divested this interest in 2010 to for £20.9 million net consideration, allowing focus on core residential services. Leadership transitioned in 2023 with the appointment of Johan Svanstrom as , effective March 6, following his role as CEO designate; Svanstrom brought extensive experience from prior positions at and to drive international expansion and innovation. In 2024, Rightmove acquired HomeViews Platform Limited for £8 million in cash, integrating the resident review platform to improve transparency and user trust in property searches, particularly for build-to-rent options. Marking its 25th anniversary in 2025, Rightmove celebrated with campaigns highlighting viral property listings and launched a house-shaped cake installation to engage users on . Amid these milestones, the company announced plans to invest £60 million over the next three years in AI-powered operations and consumer innovations, aiming to accelerate revenue growth beyond 10% annually by enhancing platform efficiency and personalization.

Operations

Core services and products

Rightmove's core offering is its property search portal, accessible through the website rightmove.co.uk and a dedicated mobile app, which facilitates searches for properties available to buy, rent, or sell across the UK. The platform aggregates listings from over 19,000 estate agents, providing users with access to more than 1.3 million properties and attracting over 20 million monthly visitors. Specialized services extend the portal's functionality for targeted user needs. The New Homes service supports by listing over 900,000 new build properties, enabling buyers to explore developments with features like virtual tours and direct developer contacts. The Lettings service, available to users seeking rental accommodations, has been a paid subscription model for agents since 2005, covering residential rentals and integrating tools for tenant matching. Additionally, Rightmove Overseas allows searches for international properties in destinations such as , , , and , drawing over 9 million monthly searches from UK-based users interested in holiday homes or relocations. Complementary products enhance user decision-making in property transactions. The , a monthly report based on asking prices from 95% of newly marketed properties, tracks national and regional trends to inform buyers and sellers on market dynamics. The free valuations tool provides instant online estimates of property worth using recent sales data and local comparables, while also connecting users to agent-led appraisals. The mortgage comparison service offers users side-by-side evaluations of loan options from multiple lenders, with its adoption driving significant growth in user engagement during the first half of 2025. For agents and partners, Rightmove provides segmented tools to optimize listings and visibility. Premium advertising packages, including Rightmove Plus for self-service ad management and Premium Agent Profiles for enhanced branding on mobile searches, allow agents to prioritize properties and access performance reports on views and enquiries. These products cater to estate agents, lettings specialists, and new home developers, fostering direct connections with potential clients through integrated .

Technology and platform features

Rightmove's platform leverages significant network effects, driven by its position as the UK's leading portal, which attracted 2.3 billion visits in 2024 from consumers searching for homes, rentals, and market insights. This substantial traffic not only amplifies visibility for over 20,000 and letting agents but also creates a self-reinforcing where increased user engagement draws more listings and advertisers. In 2025, Rightmove ramped up investments in to enhance , introducing features such as AI-powered recommendations, an online agent valuation tool, and a "Style with " visualization for home improvements, all aimed at delivering tailored experiences based on user behavior and preferences. To strengthen its data products, Rightmove has integrated analytics from key acquisitions focused on market intelligence and user . The 2016 acquisition of The Outside View provided capabilities, enabling advanced property valuation models and trend forecasting derived from vast datasets of user interactions and market variables. Complementing this, the February 2024 acquisition of HomeViews for £8 million added a platform of verified resident reviews, offering insights into new-build quality and neighborhood satisfaction to inform buyer decisions and refine agent strategies; these reviews are now integrated into property listings to provide users with authentic from . The platform's supports on-the-go with features including interactive maps for location scouting, zoomable floorplans, nearby school details, and high-resolution image galleries, all synchronized with accounts for saved searches and alerts. Page impressions, a key metric of platform usage, hit 11 billion annually in amid rising mobile adoption and have since scaled substantially, reflecting the shift to property hunting with billions more views across and app channels today. Security is prioritized under Tim Harding, who leads initiatives like mandatory for agent logins and fraud detection protocols to protect data and prevent unauthorized . Rightmove's innovation strategy emphasizes product refreshes customized for user segments, such as app transformations for consumers and -enhanced tools for agents to streamline listings and workflows. In November 2025, the company announced accelerated spending of £60 million over three years, prompting a delay in its double-digit compound annual growth target to 2030 while projecting over 12% underlying operating profit growth thereafter through enhanced network effects and operational efficiencies.

Business model

Revenue streams

Rightmove's primary derives from subscriptions paid by estate agents for access to its , including branch-based fees for listing capabilities and per-property fees for additional listings beyond base allowances. These subscriptions accounted for approximately 72% of in 2023, with the generating £262.0 million out of £364.3 million overall. In the first half of 2025, the contributed £150.8 million, representing about 71% of the period's £211.7 million , driven by average revenue per advertiser () increases from product upgrades. Additional revenue comes from premium upgrades, such as enhanced visibility tools like , which allow agents to boost listings for better placement and ; these upgrades drove 61% of growth in the segment during the first half of 2025. New Homes developer advertising, where developers pay subscription fees for promoting multiple properties, generated £66.4 million in 2023 (18% of total revenue) and £37.5 million in the first half of 2025 (up 11% year-over-year), with 68% of developers on the top Advanced package. Lettings portal charges, including fees for rental listings and services like tenant referencing and insurance commissions via Lead to Keys, form part of the Rental Services within strategic growth areas, which saw overall revenue of £15.3 million in the first half of 2025 (up 37% YoY). commissions, earned through referrals and information packs, more than doubled to £4.5 million in the first half of 2025 (up 107%). Overseas services, covering international property listings, and ancillary offerings like automated valuations and data licensing to third parties, are bundled in the Other revenue category, which totaled £23.4 million in the first half of 2025 (up 18%) and included data services contributing to non-property products at £17.0 million for full-year 2023. Rightmove's evolved from free listings launched in 2000 to a paid subscription model introduced in 2002, marking it as the first major website to charge for sales advertising; by 2004, half of agents were paying customers. This shift, extended to rentals in 2005, leverages powerful network effects—such as over 2.2 billion annual visits and 86% of time spent on portals—to create a self-reinforcing that enhances value for agents and drives high margins. The model supports underlying operating profit margins of around 70-72%, as seen in 71% for the first half of 2025 and an expected 70% for the full year.

Financial performance

Rightmove reports its financial year ending on December 31. In 2024, the company achieved full-year of £389.9 million, reflecting a 7% year-over-year (YoY) increase from £364.3 million in 2023. For the first half of 2025 (H1 2025), rose to £211.7 million, up 10% YoY from £192.1 million, driven by growth in core property advertising and strategic areas. Operating profit for H1 2025 reached £145.4 million, also up 10% YoY from £131.6 million, with an underlying operating profit margin of 71%. Profit trends demonstrate Rightmove's high-margin , with an underlying net around 52% in recent periods. Looking ahead, the company anticipates underlying growth of 3-5% in 2026, tempered by accelerated investments in and platform enhancements. This outlook reflects a resilient amid the UK's market recovery, supported by steady demand for property listings despite economic headwinds. Following the November 7, 2025, trading update, Rightmove's shares fell by over 25%—the largest single-day drop on record—reflecting investor concerns over the moderated 2026 growth due to heightened investments. Rightmove has prioritized shareholder returns, cumulatively distributing over £1 billion in cash by 2018 through dividends and share buybacks, with ongoing dividends maintained annually. As of November 18, 2025, the company's stock price stood at approximately £5.55, yielding a of £4.25 billion.

Corporate affairs

Leadership and governance

Rightmove's executive leadership is headed by Johan Svanström, who was appointed in March 2023 following a search for external expertise in digital marketplace growth. The is Ruaridh Hook, who joined in September 2024 with prior experience in finance roles at the company since 2020. The C-suite also includes Dave Anderson, responsible for commercial operations; Jennie Barker, overseeing and employee engagement; Matt Bushby, leading brand and consumer strategies; Steve Pimblett, driving data and AI initiatives; Tarah Lourens, managing technology and operations; and Lydia Yao, focusing on long-term business direction. The comprises Chairman , appointed in 2020, and a majority of including Jacqueline de Rojas CBE as Senior , ensuring balanced oversight in line with FTSE 100 governance standards. The board structure emphasizes strategic guidance, risk management, and regulatory compliance, with dedicated committees such as the (chaired by Amanda James), Remuneration Committee (chaired by Lorna Tilbian), and Nomination Committee (chaired by ) to support effective decision-making. These committees meet regularly to review financial reporting, , and board composition, fostering a high-trust culture and commitment to cybersecurity. Governance practices at Rightmove prioritize innovation through technology investments, integration of environmental, social, and governance (ESG) considerations into core operations, and alignment with interests via transparent and surplus cash returns. The board's matters reserved for its approval, updated in November 2025, underscore its role in directing the company's overall leadership and ethical standards. In recognition of its governance and workplace practices, Rightmove received the Tech Business of the Year award at the PLC Awards 2024 for driving through technology. Additionally, it was named one of the Best Places to Work 2025, highlighting strong employee satisfaction and inclusive culture.

Sustainability and ESG initiatives

Rightmove achieved carbon neutral status in its operations in 2019 through a combination of emission reductions and offsetting, and has since maintained this commitment while pursuing deeper decarbonization. The company has set science-based targets validated by the Science Based Targets initiative (SBTi), aiming for net zero emissions in direct operations (Scopes 1 and 2) by 2030 and across its value chain (including Scope 3) by 2040, with interim reductions of 47.6% for Scopes 1 and 2 and 42% for Scope 3 by 2030 from a 2020 baseline. Strategies to reduce emissions include transitioning to 100% ultra-low emission company vehicles by 2028 (reaching 88% in 2024), powering all offices with 100% renewable electricity (420,840 kWh in 2024), implementing hybrid working to cut travel, and engaging suppliers and data centers for renewable energy adoption. The "Go Greener" initiative further supports these efforts by promoting sustainable practices, green data management, and tools like the Greener Homes Report, which in 2024 saw a 23% increase in consumer engagement with energy efficiency information to aid property sector decarbonization. On the social front, Rightmove emphasizes under the oversight of its Chief People Officer, with 50% of staff identifying as female and 19% from non-white ethnic groups in 2024, alongside a board that is 37.5% female and 37.5% ethnically diverse, exceeding Parker Review targets. Community initiatives include £299,680 in charitable donations in 2024 (up from £234,000 in 2023) and 1,659 volunteer hours, supported by partnerships such as with the and two additional paid volunteering days for employees. For estate agents, Rightmove runs training programs like the Certified Estate and Letting Agent (CELA) qualification, with over 2,500 agents enrolled and 25,000 course completions in 2024 (a 49% increase from 2023), alongside webinars and certifications in areas like anti-money laundering and GDPR to enhance professional standards. Governance practices integrate through transparent annual reporting aligned with the Task Force on Climate-related Financial Disclosures (TCFD) and the , with the CSR Committee reviewing progress biannually. factors are embedded in board decisions via frameworks that treat and social risks as core categories, and an AI Committee established in August 2024 oversees ethical use through policies, registers, and employee training to ensure responsible platform development. Rightmove aligns its efforts with UK sustainability standards, including SBTi validation and criteria, and received the top rating in the 2025 MSCI Ratings assessment, alongside a Prime from ISS in 2024. These initiatives position the company as a leader in property sector decarbonization, exemplified by participation in the Cleantech Homes Project and the launch of a Green Premium Calculator for sustainable lending.

Reception and criticism

Market dominance concerns

Rightmove's dominant position in the UK property portal market, with over 80% of time spent on property portals, has drawn significant criticism for creating a near-monopoly that stifles competition and imposes unfair burdens on estate agents. Industry observers argue that this dominance enables Rightmove to implement aggressive fee increases, such as the 18% hike announced in early 2025, which disproportionately affect independent and smaller agencies unable to negotiate favorable rates. For instance, a campaigner has claimed that while large corporate agencies pay as little as £125 per branch, independent agents face monthly bills exceeding £2,000, though Rightmove has denied the specific £125 figure as untrue; these disparities exacerbate operational costs and contribute to job losses among smaller firms struggling to remain viable. Critics contend that Rightmove's favors large corporates through preferential pricing and visibility, harming smaller players and distorting the broader housing market by reducing diversity in representation. This favoritism is said to inflate property price indices, as dominant listings from well-resourced agencies may skew average asking prices upward, potentially misleading buyers and perpetuating affordability challenges in an already strained housing sector. The resulting consolidation pressures smaller s to either absorb unsustainable costs or exit the market, further entrenching Rightmove's control and limiting consumer choice in property searches. The rejection of a £5.6 billion takeover bid in 2024 from , a Murdoch-backed Australian firm, intensified concerns about potential further consolidation that could amplify Rightmove's monopoly-like influence. Although the board unanimously turned down the offer—later revised upward to £6.2 billion before being withdrawn—the episode highlighted fears that such a merger would exacerbate pricing power and reduce competitive alternatives in the portal space. In response, estate agents have mounted campaigns against Rightmove's dominance, including a 2025 petition drive calling for a Competition and Markets Authority investigation into its pricing practices, which garnered support from independents decrying "unfair and unsustainable" fees. However, industry figures have dismissed these efforts as having "less than zero chance" of success, citing Rightmove's entrenched position and the reluctance of agents to forgo its traffic despite the costs. These initiatives underscore ongoing tensions, with calls for regulatory intervention to address the portal's impact on market equity.

Legal and regulatory issues

Rightmove has engaged in several disputes to protect its brand identity. In April 2025, the company launched a high-profile against Right Room, a small London-based rental , accusing it of using a name, logo, and color scheme too similar to Rightmove's, which could lead to consumer confusion. Described as a "David vs. " battle due to the stark difference in company sizes, the case underscores Rightmove's aggressive enforcement of its rights against smaller competitors. Earlier, in March 2021, Rightmove successfully recovered the righttrade. through a process with Nominet, the .uk registry, by demonstrating that the domain was confusingly similar to its established and used in . The company has also faced regulatory scrutiny over its advertising practices. In November 2024, following a complaint from an to the Advertising Standards Authority (), Rightmove agreed to revise the wording of its "free valuation" advertisements, which had been criticized for potentially misleading consumers about the nature and cost of the service. The ASA's intervention highlighted concerns that the ads implied no obligations or costs were involved, prompting Rightmove to clarify the terms to ensure compliance with advertising standards on transparency. Contractual disputes in the estate sector have occasionally reached higher courts, emphasizing principles of commercial . In the 2021 Court of Appeal case of Butcher v Pike EWCA Civ 1407, the judges applied the doctrine of "business common sense" to resolve ambiguities in a share purchase agreement for a lettings that relied on listing platforms. The ruling clarified that while business common sense can guide to avoid commercially absurd outcomes, it cannot override clear contractual language or expand disclosure exceptions beyond their intended scope. On the regulatory front, Rightmove has actively lobbied against policies perceived as harmful to the sector. In 2024, ahead of the Autumn Budget, Rightmove urged not to impose additional taxes on landlords, warning that further fiscal burdens—such as aligning rates on second homes with —would exacerbate supply shortages in the rental market and drive up prices for tenants. Such advocacy reflects Rightmove's position that punitive measures on landlords could stifle without addressing underlying affordability issues. Additionally, the company has come under ongoing scrutiny from groups and agents regarding its subscription fees, with petitions in 2025 calling for a () investigation into potential abuse of dominant market position under competition law, citing discriminatory pricing that disadvantages smaller estate agencies. No formal CMA probe has been launched as of late 2025, but the complaints highlight broader concerns over fee structures in the sector. In November 2025, Rightmove faced a potential £1 billion collective legal claim from thousands of estate agents, alleging that the company abused its dominant market position by charging excessive and unfair fees, particularly discriminating against smaller independent agencies through higher rates compared to large corporates. The claim, led by financier Jeremy Newman, seeks to recover overcharged amounts estimated at around £1 billion and is described as imminent, building on earlier criticisms of Rightmove's pricing practices.

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