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Rightmove Record Year

Despite the housing market struggling along, Rightmove announced a the “busiest year in its history”. With a 26% rise in revenues for 2010. Rightmove saw 18,042 members, a 2% rise along with a pre-tax profit of £52.2m.

The property portal also told shareholders that its market share among the top four in the UK portal market now stands at 82% in terms of pages viewed.

Rightmove founder Ed Williams

Rightmove founder Ed Williams cashing in

Rightmove called 2010 its best year in its history after increased spending by estate agents fuelled a 43% surge in profits.

Rightmove in 2011

It looks like the trend will continue with January 2011 seeing a record number of inquiries to our advertisers.
Rightmove has emerged relatively unscathed from the market slump following the financial crisis, which forced swathes of estate agents out of business, with up to 300 estate agents quitting the service each month at one stage in 2008.

Releasing its full year results for the 12 months ended December 31, 2010, Rightmove said its results show strong performance across all areas.

posted by Zane in Estate Agents,Guide,Property,Rightmove and have Comment (1)

One Response to “Rightmove Record Year”

  1. Michael says:

    As Rightmove contines to grow and increase their costs year on year, more estate agents will have to seek out alternative solutions. Rightmove have become so big like other brands such as Google they now monopolise the market. Over the next several years the property market will stabalise meaning home movers will be able to sell their home faster. This may mean Rightmove profits fall, as you no longer have to rely so heavily on them.

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