Rightmove remains confident in full-year outlook

(Sharecast News) - Rightmove said in an update on Friday that it remained confident in its full-year outlook, reiterating guidance for 8% to 10% revenue growth in 2025 and a 70% underlying operating profit margin. The FTSE 100 property portal operator reported continued progress in average revenue per advertiser in its core estate agency and new homes businesses, driven by product innovation and the ongoing migration of agents to its top-tier 'Optimiser Edge' package.

Membership levels had risen since the year-end, with expectations for a 1% increase in member numbers this year remaining unchanged.

The group noted solid momentum across its strategic growth Areas - commercial property, mortgages and rental services - all of which were on track against their internal targets.

Recent product launches included an AI-powered remortgage model, a new renters' checklist, and a commercial property API, alongside enhancements to search functionality and agent tools.

Rightmove also highlighted strong consumer engagement, with over 80% of time spent on UK property portals occurring on its platform, bolstered by a successful brand campaign and new features such as instant online valuations and AI-driven search keywords.

Rightmove said its own market data suggested continued recovery in housing activity, with new listings in the resale market reaching a 10-year high and agreed sales up 7% year-on-year.

In rentals, supply remained constrained despite some softening in demand, while new homes developers were reportedly showing greater confidence amid a more favourable rate environment and government policy signals.

"We're pleased to have started 2025 with good financial, operational and strategic momentum," said chief executive officer Johan Svanstrom.

"In particular, we're making strong strides forwards in delivering new tools and products to make the property journey smoother for both consumers and our partners."

Svanstrom said that in the current uncertain global climate, Rightmove's UK-focused, subscription-based and B2B-oriented business model meant it was "comparatively well-insulated" from the volatility that some other companies and industries were contending with.

"We look forward with confidence and are today reiterating our expectation of delivering 8% to 10% revenue growth this year."

At 0935 BST, shares in Rightmove were down 0.11% at 743.2p.

Reporting by Josh White for Sharecast.com.