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Rightmove rise

Rightmove is attracting record numbers of househunters despite the current uncertain market.

Rightmove claim analytics show the six months to the end of June, the number of page impressions on its website jumped by 22% to 3.9bn. March was a record month, said the company, while April included its busiest day ever. With increased advertising spend from estate agents trying to attract customers – average spend per advertiser was up 20% – the company has reported a rise in underlying half year profits to £27.9m.

Rightmove rise

Rightmove on the rise

Rightmove expect revenue to continue on an upward path. Their plans for 2011 is to deliver further growth in the average spend per advertiser. They say that an outlook need not be materially affected by flat or modest falls in house prices, provided that transaction volumes do not take a sharp downward turn and cause customers to cease trading. Rightmove recently set up a partnership with Google search engine.

The current economic environment meant there was likely to be little improvement in the housing market this year compared to 2008 and 2009, but its customers had taken actions to try and deal with the downturn and had in most cases been able to trade profitably. Its trading in July and August had been in line with the first half.

posted by Zane in Buying,Recession,Rightmove and have No Comments

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