|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
25th of September 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
August 29, 2008    

Rightmove gains as home sellers gravitate to the net

Bookmark and Share

by Gill Montia
Rightmove gains as home sellers gravitate to the net

The housing market slowdown has hardly been good news for property portal, Rightmove, as its share price reflects.

However, the company has just reported a 63% rise in pre-tax profit in the six months to the end of June, to £19.8 million.

Revenues for the period increased 49%, to £37.8 million, with both sales to new members and revenue per advertiser showing growth.

The company says it is gaining business at the expense of regional newspapers and that its website now covers 90% of all new and existing homes for sale in the UK.

Rightmove’s managing director, Ed Williams, is promising that efforts to ensure that Rightmove generates enquiries from prospective home buyers are being redoubled.

The company certainly cannot afford to become complacent because the National Association of Estate Agents is launching a website that will allow its 10,000 members to advertise properties at no charge.

The site should be up and running in October and could provide strong competition for Rightmove, which charges customers up to £495 a month to advertise homes.

Discuss this in the Finance Markets forums

Story link: Rightmove gains as home sellers gravitate to the net






Related financial stories to: Rightmove gains as home sellers gravitate to the net:
Previous: «
Next: »

Visited 1489 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: advertising, , , , revenues, ,

 


Property News feed Property News

All Financial News feed All Financial News