Rightmove grabs 83% slice of market as more agents join

News Category: Industry News

Rightmove today revealed that it has had its busiest period ever, leaving other property portals trailing as it grabbed 83% of market share.

This morning, it  published its Interim Management Statement for the period January 1 to April 30, showing a 5% increase in estate agents signing up so far this year.  The company's shares have, in recent weeks, shot up to £7 from less than £5 at the start of the year and were up again this morning in early trading.
The statement also revealed March as the company’s busiest-ever month and April 6 marking the company’s busiest-ever day. The level of site traffic helped Rightmove’s market share among the top property websites increase to 83% for the first four months of the year, up from an average of 81% in 2009, according to Hitwise figures.  

Miles Shipside, commercial director of Rightmove, said: “Rightmove’s lead over the competition is bigger than ever. This is partly thanks to our spring TV advertising, as well as having our iPhone app featured in Apple’s own TV advertising. Home-hunters, landlords and sellers have responded to these campaigns by visiting the site in record numbers, giving Rightmove members a significant advantage in the current market.”  

Average revenue per advertiser has been strong for Rightmove, thanks to adoption of additional products, with 55% of agents now taking at least one additional product. 

Shipside said: “Take-up of our suite of products has been encouraging. Agents understand that with over 650 million pages viewed a month on Rightmove, the way they appear on our site says a lot about them. Our products help agents to gain a competitive edge in front of the widest internet property audience, whether that be to raise their profile in the local market, win more instructions or highlight a specific property.” 


 
 


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