Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»UK property portal Rightmove sees fewer house hunters as market slows
Finance

UK property portal Rightmove sees fewer house hunters as market slows

March 3, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
  • Posts 2022 op revenue of 241.3 mln stg vs fcast 242.2 mln
  • Shares down 3.7%

March 3 (Reuters) – UK actual property portal Rightmove (RMV.L) gave additional proof of a slowdown within the housing market on Friday saying fewer individuals have been looking for properties on its platforms because it posted an annual revenue according to expectations.

Shares within the firm, which runs the UK’s largest property web site, slipped as a lot as 3.7% to a seven-week low of 540 pence in morning commerce and the inventory was the highest proportion loser on the blue-chip FTSE 100 (.FTSE) index.

Exercise within the UK housing sector has eased in current months, harm by a dent in demand for brand new houses as larger home-loan charges and broader recession fears drive away potential consumers.

The London-headquartered agency mentioned there have been greater than 2.3 billion visits to its platforms in 2022 however that was down 8% from a yr earlier, with an 11% fall in time spent looking for properties.

“Whereas a cooling market doesn’t have an effect on Rightmove straight, it does affect the property brokers it depends on for charges,” Sophie Lund-Yates, lead fairness analyst at Hargreaves Lansdown, mentioned in a notice, including that the agency would possibly have to generate revenue in additional artistic methods sooner or later if agent numbers continued to fall.

Newest Updates

View 2 extra tales

“The softening from the COVID-induced frenetic market in the direction of a extra regular market earlier within the yr was disrupted within the remaining few months by the surprising speedy mortgage charge will increase,” Chief Government Officer Peter Brooks-Johnson mentioned in a press release.

Nonetheless, the corporate’s Common Income Per Advertiser (ARPA) rose 11% to 1,314 kilos ($1,573.25) per 30 days from 1,189 kilos a yr earlier.

The corporate posted an working revenue for the yr ended Dec. 31 of 241.3 million kilos, in contrast with company-compiled common analysts’ estimates of 242.2 million kilos.

($1 = 0.8349 kilos)

Reporting by Aby Jose Koilparambil in Bengaluru and Suban Abdulla in London; Enhancing by Sherry Jacob-Phillips and Elaine Hardcastle

: .

Source link

house hunters market portal property Rightmove sees slows
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Taiwan Semiconductor Manufacturing Company Limited (TSM) Slid due to Broader Market Correction

May 30, 2025

BMO’s Q2 earnings show no improvement in credit conditions for trucking

May 30, 2025

Factors that Powered HCI Group’s (HCI) Performance in Q1

May 30, 2025

Why Harmony Gold Mining Company Limited (HMY) Went Down On Tuesday

May 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

No order to cover ‘Manipur’ on bus, Chief Secretary says panel will inquire | India News

May 30, 2025

What is diabetic rice?

May 30, 2025

IPL Qualifier I: Red-hot RCB fire their way into fourth final | Ipl News

May 30, 2025

Another Colorado measles case tied to Turkish Airlines flight into DIA

May 30, 2025
Popular Post

Watch: Messi scores sensational curling free-kick of the right-hand post for PSG | Football News

‘Telangana police’s special cell in BRS regime used for snooping on Oppn’ | Latest News India

‘I will travel till Kashmir’, says 88-year-old Cong worker taking part in Bharat Jodo Yatra

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.