Rightmove (RMV) Trading update summary

Trading performance and outlook

• Revenue growth guidance for 2026 reaffirmed at 8-10%, with stronger growth expected in the second half of the year.

• Core business ARPA growth remains on track, supported by increased membership and product innovation.

• Strategic Growth Areas (Commercial Property, Mortgages, Rental Services) are expected to deliver 20-30% revenue growth.

• Underlying operating profit growth forecasted at 3-5%, with EPS growth of at least 5% for 2026.

• £44m of the £90m share buyback programme completed by early May 2026.

Innovation and technology integration

• Over 2,500 technology releases in the first four months of 2026, a 20% increase year-on-year.

• 43 AI initiatives underway, up from 31 at the end of 2025, including AI-powered conversational search and a ChatGPT app.

• Online Agent Valuation now covers over 40% of available areas, delivering 60% more unique valuation leads year-on-year.

• Enhanced Rental Services and new mortgage tools launched, including a NatWest-powered Mortgage in Principle and Equity Tracker.

• New agent qualifications launched in partnership with Propertymark, with 10,500 agents enrolled in CELA.

Market trends and consumer engagement

• Mortgage rates have risen to 5.1% for both two- and five-year fixed terms since December 2025.

• House price growth remains positive, with listing volumes at an eleven-year high.

• Rental market shows continued supply-demand imbalance, with average enquiries per property above pre-COVID levels.

• New Homes developments remain at historically low levels due to subdued build rates.

• Over 80% of consumer time spent on UK property portals is on the platform, with over 85% of traffic organic and direct.