Rightmove has moved to defend its position after being hit with a £1.5bn lawsuit alleging it charged estate agents “unfair” fees – claims that have already knocked around £300m off the company’s market value.

The class action, led by accountant Jeremy Newman on behalf of potentially hundreds of estate agents, alleges the property portal exploited its dominant position in the market. A formal letter of claim has been issued, seeking close to £1.5bn in damages.

The legal action, which centres on Rightmove’s pricing model and its leading position in the property portal market, has raised fresh questions about the cost of listings for agents and the level of competition in the sector.

The impact was quickly reflected in the company’s valuation, with shares falling after news of the claim broke, wiping almost £300m off its market value. Investors appear concerned about the potential financial and reputational risks, as well as the broader implications for Rightmove’s long-established business model.

In response, Rightmove said it strongly rejects the allegations and intends to defend the case, maintaining that it delivers value to agents through its platform and reach.

Rightmove issued the following statement: “Further to our announcement of 13 November 2025, Rightmove confirms that it is aware of reports that an application to commence collective proceedings against Rightmove has been filed with the Competition Appeal Tribunal.

“Rightmove is confident in the value we provide to our partners and consumers, who are at the core of our   business solutions and digital platform.

“As one of the most efficient parts of the UK housing market, we help people across the UK to move home by bringing buyers, sellers, renters, landlords and agents together. Our platform continues to provide a growing range of constantly evolving products and features which facilitate market transparency, liquidity and confidence. This claim is without merit, and we will defend it vigorously.”

With more than 250 estate agencies from across the UK so far expressing an interest in and support for the claim against Rightmove since it was first announced in November 2025, Newman, leading the case against Rightmove, said he was extremely encouraged by the response from agents.

He commented: “The stories shared by businesses, both small and large, have confirmed long-held concerns in the market about Rightmove’s conduct.

“Filing this claim advances the route to meaningful compensation for those businesses who have had very little choice but to absorb excessive fee increases for many years.”

The claim is fully funded by Innsworth Capital, with legal support from Scott+Scott UK LLP and independent economic analysis by Kairos Economics.

James Hain-Cole, partner at Scott+Scott, commented: “For years, thousands of businesses have been captive customers of Rightmove, which faces no effective competition. It’s therefore been allowed to financially squeeze its subscribers by consistently and materially raising prices without proper justification or explanation. We’re pleased to have now filed this important legal action and to be supporting Jeremy in seeking redress for thousands of British businesses.”

EYE NEWSLASH: Rightmove faces £1bn legal action over ‘excessive’ fees