Rightmove traffic booms in wake of rising house prices
Property website Rightmove has reported a rise in profit before tax of £14m to £97m for the year ended 31 December 2013.
Revenue jumped by 17 per cent to £140m while the website's traffic rocketed 27 per cent to 14bn page impressions.
Chief executive officer of Rightmove Nick McKittrick, commented:
I'm delighted that Rightmove's popularity continues to grow with consumers and our customers. Traffic across our website, mobile and tablet platforms is up 27 per cent cementing our position in the top ten busiest UK sites.
This increased exposure for our customers' brands and properties, coupled with further investment in our technology, has delivered 70 per cent more enquiries.
The company said it was it experiencing an encouraging start to the year, with it's busiest ever January. Rightmove's announcement came in tandem with a Nationwide report showing house prices rose 0.6 per cent month-on-month and 9.4 per cent year-on-year.
The average house price on the Nationwide measure climbed to it's highest level since April 2008, reaching £177,846 in January.