Rightmove reveals more agents, more visits and more profits in past year

Rightmove has released its figures for 2016 and as predicted they show the portal streaking ahead of all rivals.

It reports record advertiser numbers with agency and new homes customers up two per cent last year to 20,121; it says one million UK residential properties advertised on Rightmove during the year which it claims is a third more than on any other portal.

Its trading statement to the City this morning adds that it saw strong traffic growth in 2016 with visits up 10 per cent averaging over 120 million visits per month; ‘time on site’, another valuable online measurement, was up five per cent to nearly one billion minutes per month.

Revenue was up 15 per cent year on year; operating profit increased 18 per cent and basic earnings per share rose 21 per cent.

During 2016 Rightmove was ranked by Forbes as the world’s most innovative growth company, following the launch of a new marketing tool. “The overall engagement and value of Rightmove Intel software keeps growing with usage up over 30 per cent year on year” the portal says.

Commenting on this morning’s figures Nick McKittrick, the portal’s chief executive officer - who is retiring in the early summer - says: “Rightmove continues to be the place that home movers turn to first, with nearly 1.5 billion visits in 2016, up 10 per cent on last year. Our continued innovation and audience growth is delivering even greater exposure for our customers’ brands and properties. 

“We are adding further value through our data, advertising products and productivity tools and by building closer relationships with customers to support their ambitions. With consumers and customers becoming increasingly digital our clear market leadership coupled with the value of our products and data positions us well for the future.”

McKittrick stays on as CEO until early June but will retire as a board director at the Rightmove AGM on May 9. Peter Brooks-Johnson, who is currently the chief operating officer and has been a director since 2011 will become the new CEO.