The stamp duty holiday, low borrowing costs and a desire for more space, helped boost the UK housing market during the pandemic.
The recent house market boom has now left a number of agents with a shortage of properties for sale, while Rightmove continues to cash in.
The property website saw healthy growth in average revenue per advertiser on its platform, and record low levels of churn or defections by estate agencies to other property portals.
Rightmove, which expects the trend for the rest of the year to “follow a broadly similar pattern”, said ARPA jumped 63% to a record £1,163 per month, up from £1,077 in 2019.
The company said operating profit came in at £114.9m for the six months ended June 30, compared with £61.7m 12 month earlier and £108.2m reported for the first half of 2019.
Anthony Codling, chief executive of PropTech platform Twindig, said: “It doesn’t pay stamp duty, but it benefitted from the stamp duty holiday, Rightmove’s are revenues up 58%, and it makes 76.5p pure profit for every £1 spent by its customers, safe as houses rich as Rightmove.
“Estate agents may be short of stock and first-time buyers struggling to get a foot on the housing ladder, but Rightmove has certainly found its happy place again.”