Home hunters drive record traffic for property website Rightmove as UK recovery takes hold

 
Kasmira Jefford
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RIGHTMOVE said a record number of home hunters visiting its website helping to lift profits in the first half by 32 per cent to £58.8m.

The number of enquiries from would-be homeowners jumped by 27 per cent to a record 22.3m in the six months to 30 June as the recovery in the property market continued to gather pace.

Chief executive Nick McKittrick, said: “Rightmove’s popularity goes from strength to strength, with home hunters visiting more often and looking at more property than ever.”

Revenues grew 20 per cent to £80.4m as more agents signed up to advertise on the property portal. The number of advertisers grew three per cent, taking the total number of offices and developments on its site to 18,995.

The average revenue per advertiser were up 13 per cent to £671 per month, also helping its overall performance, with over two-thirds of the growth driven by agents and developers spending more on Rightmove’s additional advertising products and packages.

The company returned £56.3m to shareholders, through dividends and share buybacks in the period.

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