Rightmove has reported a 10-year high in agent retention, with revenue from estate agency customers increasing by 9% in the first half of the year. The company’s agency membership grew by 1% during this period, driven by strong demand for its products and services.
Revenue Growth
The revenue growth was supported by the adoption of AI-powered products, including its online valuation tool, which generated around 50% more unique valuation leads for estate agents. The “Ask Rightmove” conversational search feature also increased consumer engagement and improved lead conversion.
The firm released 40% more technology products and enhancements during the first half of 2026 than a year earlier, with 46 AI initiatives currently under development. New workflow tools for agents are expected to launch later this year.
Market Conditions
Despite gains in its agency business, Rightmove lowered its full-year revenue growth forecast because of continued weakness in the new homes sector. New‑build developments fell by 6% compared to the previous year, prompting a revision of expected group revenue growth for 2026 to between 6% and 8%.
Operating profit and earnings guidance remain unchanged, supported by continued cost control. The company also announced plans to return over £400 million to shareholders over the next 12 months, including around £330 million through an expanded share buyback program.
Johan Svanstrom, CEO at Rightmove, said the platform continues to deliver increased value to partners and consumers. He noted that investment in AI solutions is showing results and that the firm is on an exciting trajectory for the property marketplace.
Related: Signs of a Burnham bounce in housing
Financial Performance
Revenue increased by 7% in the first half of 2026, supported by demand for incremental products and premium packages. Agency revenue grew 9%, New Homes 2% and Other 1%. ARPA growth was strong in both Agency and New Homes, at 8% and 7% respectively, although New Homes membership declined 4% in the half as a result of challenging market conditions and fewer new developments coming to market.
Operating profit rose by 2%, with an underlying margin of 69%. Basic earnings per share were up 5%, while underlying basic earnings per share grew 6%.
Market Outlook
The UK resale and lettings market remains resilient despite volatile global macro conditions.
The firm expects revenue growth of 6% to 8% for the full year, with a change in core membership of -1% to +1% year‑on‑year.
Strong cash generation and the business model are expected to support a moderate level of leverage while maintaining financial flexibility. The decision to enter a £200 million revolving credit facility is intended to fund additional share buybacks, aiming to return over £400 million to shareholders by July 31, 2027.
