Online advertising boosts Rightmove

| February 24, 2012 | 0 Comments
Online advertising boosts Rightmove

UK property website Rightmove saw traffic to its property portal soar by 22 per cent to 9.3 billion pages in 2011.

The site accounted for 84 per cent of the pages viewed on the top four property websites.

Over two-thirds of Rightmove’s advertisers took advantage of additional advertising products available to promote their properties, with spending on these products increasing by 43 per cent in 2011, compared with 2010.

This helped Rightmove increase its 2011 annual revenues by 19% to £97m, compared with £81.6m in 2010, while underlying profit before tax increased by 23% to £69.4m.

Ed Williams, Managing Director of Rightmove said: “We put Rightmove advertisers in front of the UK’s largest online audience of home-movers and are continuing to invest in new innovations which connect the British home-moving public with the properties, brands and expertise of our advertisers.”

Rightmove’s iPhone app, released in September, helped increase the number of property searches on mobile platforms to 228 million, a rise of 168 per cent from 85 million in 2010.

The company has also released an innovative smart TV app, which allows user to search for properties via a Samsung internet-enabled television.

Mr Williams suggested that online advertising could soon overtake newspaper advertising as the most popular method of selling a property.

“With further strong growth in 2012, there is every prospect this will be the year when the property industry’s spend on advertising on the internet will exceed that on local newspapers for the first time,” he said.

In related news, a new property site has been launched in Scotland, which is designed to offer a new way of buying and selling property.

Move Quick operates solely in Scotland and is tailored to the country’s unique system of conveyancing.

It allows house sellers to market their property through Internet portals such as Rightmove, Zoopla and offers a package with no up-front costs for sellers.

Fees are paid after the property has been sold and can be a percentage of the selling price, or a fixed amount.

Move Quick’s founder Barry Chuwen said: “We recognise that people are more likely to go online when they are looking to buy a home.

“And our various partnerships with other property portals allow us to reach an audience of millions.”

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