Rightmove (RMV) Trading Update summary

Current trading and outlook

• Revenue growth guidance for 2025 remains at 8-10%, with Core ARPA growth and 1% membership growth expected.

• Strategic Growth Areas—Commercial Property, Mortgages, and Rental Services—are on track to meet annual targets.

• Underlying operating profit margin is expected to remain at 70%.

Innovation and product development

• Launched Instant Online Valuation, AI-powered search trials, and enhanced Agent Microsite and Opportunity Manager.

• New Homes segment introduced live appointment booking and the "Ascend" package with strong initial uptake.

• Commercial API launched to enrich listings; remortgage calculator and AI propensity model improved mortgage conversions.

• Renters' Checklist and virtual assistant added to enhance user and partner experience.

Market trends and performance

• Mortgage rates are falling, with a positive outlook for further rate cuts.

• Resale market shows growth: new buyer demand up 5%, new listings up 9%, sales agreed up 7%, and available listings at a ten-year high.

• Rental market remains supply-constrained, with 11 enquiries per property—double pre-COVID levels.

• New Homes developers are more optimistic, supported by interest rates and buyer demand.