Rightmove has reported a 10% rise in revenue to £211.7m for the six months to 30 June 2025, as the business delivered growth across its core and strategic markets and invested further in technology and AI.
Operating profit was up 10% at £145.4m, while underlying operating profit increased 9% to £151.3m. The company has returned £112.4m to shareholders through share buybacks and dividends, with an interim dividend up 9% to 4.05p per share. Basic earnings per share rose 14% year-on-year to 14.1p.
Rightmove said platform and network effects remained strong, with the highest first-half estate agency retention in over a decade at 96%. Membership increased by 1% to 19,323 branches and developments, driven by agency branch growth and new agent formation at levels not seen since 2020.
Strategic growth areas in commercial property, mortgages and rental services delivered a combined 37% year-on-year increase in revenue. Commercial property attracted over 100 new partners, rental services saw 270 more sign-ups to its digital solution, and mortgage revenue more than doubled to £4.5m, introducing £20bn of potential lending to partners.
The business has accelerated technology offerings, with over 3,000 product releases in the period and increased adoption of AI. Average revenue per advertiser (ARPA) grew by £112, with particular strength in the New Homes segment.
Consumer engagement remained high, with users spending a total of 9.1 billion minutes on the platform – up 10% on the same period last year and the second-highest on record. Over 85% of traffic was direct or organic. Rightmove also reported a threefold increase in engagement across social media channels year-on-year.
The company reiterated its full-year 2025 guidance, expecting revenue growth of 8-10% and an underlying operating margin of around 70%. The business expects ongoing membership and ARPA growth, with further progress across its core and strategic growth areas.
Rightmove said it expects revenue to continue growing in the second half of the year, but the year-on-year growth rate is expected to be lower than in the first half, reflecting the exceptionally strong performance in H2 2024.
Chief executive Johan Svanstrom said: “These results highlight the strength of our platform and how we serve our long-term partners with products tailored to their circumstances and needs.
“Against a backdrop of a positive market for agents, we have seen an increase in agent formation and estate agents using our top package, Optimiser Edge, which helps maximise their performance.
“Developers of new builds are turning to marketing products including our new Ascend package to help compete for buyers when the ratio of new builds to resale stock is at a post-COVID low.
“Our investment in technology and people is yielding results and with continued innovation, we remain committed to improving consumers’ overall moving journeys, and enabling our partners to grow, compete, and succeed. We see a long runway of opportunity for digitalisaton of the property ecosystem, and confirm our financial outlook for the year.”
The board said it remained confident in Rightmove’s long-term potential as it continues to invest in innovation and value delivery for both consumers and partners.
Rightmove’s latest results might look impressive on paper, but let’s break down what they really mean for agents on the ground.
Revenue up 10 percent to £211.7m and profits climbing at the same pace. Great for shareholders, but what about the agents footing the bill? £112.4m has gone straight back to investors through dividends and buybacks, while agents are left paying ever higher fees to keep their homes visible.
They boast about a 96 percent retention rate, the highest in a decade. Of course retention looks strong when agents feel they cannot afford to leave a platform that operates with near monopoly power. That’s not loyalty, that’s lack of choice.
Membership up 1 percent to 19,323 sounds good, but many of those are new start‑ups under pressure to join or risk invisibility. Meanwhile, the steady flow of long‑standing agents leaving due to cost pressures never makes the press release.
Strategic growth in mortgages, rentals, and commercial property may excite investors, but it shows where the real focus is. While agents pay more for the same portal presence, Rightmove is diversifying into other revenue streams, building its empire on the back of those already locked in.
Over 3,000 “product releases” and big talk about AI sounds impressive, but let’s be honest. These upgrades are sold as “helping agents succeed” when in practice they usually mean higher package costs. Agents are not upgrading because they want to, but because they are pressured into it.
Yes, consumer engagement is high. With so many people funneled into one site, that’s hardly surprising. But clicks and minutes online do not pay an agent’s bills, and they certainly do not justify fee hikes year after year.
What the results do not mention is the volume of agent complaints, the dissatisfaction bubbling beneath the surface, and the growing legal challenges over pricing practices. If those succeed, the impact on Rightmove’s share value will be significant. Watch this space.
So while the board talks confidently about “long‑term potential” and “innovation,” agents on the ground are dealing with rising costs, thinner margins, and little real choice. Rightmove calls it value delivery. Many of us would call it a captive market.
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A monopoly doing well……not a great story.
Come on UK government, stop the agents being taken advantage of.
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