Rightmove ready for surge in house sales as mortgage rates fall

Estate agents are signing up to ever more expensive Rightmove packages in an attempt to shift houses in what remains a slow, if improving, property market.

The property search website acknowledged the “sustained challenging mortgage rate environment”, but nevertheless reported an increase in revenue and profit for the first half of the year.

Between January and June, Rightmove’s revenue rose by 7 per cent to £192.1 million, up from £179.5 million in the same period of 2023. Pre-tax profit increased to £132.7 million from £130.3 million, a year-on-year increase of 2 per cent. It means that for every £1 agents spent with Rightmove, the company made 69p profit, a margin unmatched in the FTSE 100.

The number of estate agents and developers advertising their houses