Rightmove network drops 2%
Maybe it is the sign of the times ie Brexit (anything that goes wrong globally is blamed on Brexit so sod it, I’ll keep the trend going) or maybe it is the recent growth of OnTheMarket who have been on an advertising and signing up agenda of recent. The ‘UK’s number one property website for properties for sale and rent‘ will obviously always have a peak limit dependent on estate agencies trading at the time and their average portfolio of listings, the recent figures shows a 2% drop to just 17,328 now in their network.
Despite many aggravated estate agents seeing the Rightmove fees increasing what seems like each and every year, it is still the household name when it comes to consumers and property searching online and for this reason, some will call it blackmail or being had by the short and curlies, Rightmove can confidently increase their fees (currently £1,005 per advertiser monthly). It is likely that due to its strong position prices will further increase in 2019 and beyond…
Broker Numis forecasts adjusted pre-tax profits of £222 million, giving EPS of 20p in 2019, from £203 million and 18.3p in 2018.
Further reading can be had on Investors Chronicle website.
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