Image source: © 2025 Krish Capital Pty. Ltd.

Highlights:

  • RMV revenue rose 10% YoY with ARPA up GBP 112 million.
  • Rightmove returned GBP 112.4 million to shareholders via buybacks and dividends in H1FY25.
  • RMV’s Commercial, Mortgages, and Rentals revenue rose 37%, contributing GBP 15.3 million.

Rightmove plc (LSE:RMV), the UK’s largest property portal, reported a 10% year-on-year revenue increase for the six months ended 30 June 2025, underpinned by growth in its estate agency packages, new product uptake, and performance across its Strategic Growth Areas. Average revenue per advertiser (ARPA) rose by GBP 112 million , largely due to higher-value package subscriptions and continued product expansion. The company’s unaudited interim results show continued demand from estate agents and developers, with the number of agency members increasing by 189 branches (1%) and the number of New Homes developments rising by 73 (3%) compared to June 2024. Rightmove noted that estate agent formation had returned to pre-pandemic levels for the first time since 2020.

In terms of operational delivery, the group reported an underlying operating profit margin of 71% and an increase in basic earnings per share of 11%, with profit supported by a consistent investment programme focused on growth and digital innovation. Interim dividend per share was increased by 9% to 4.05p. Rightmove returned GBP 112.4 million to shareholders in H1FY25, through GBP 100.2 million in share buybacks and dividend distributions. Revenue from Rightmove’s three Strategic Growth Areas Commercial Property, Mortgages, and Rental Services  rose by 37% to GBP 15.3 million in H1FY25. These units contributed 21% of the company’s overall revenue growth.

Commercial Property added over 100 new partners, increasing its client base by 17% since December 2024. It accounted for more than 60% of online user time in its category and delivered 37% more leads to partners. Rental Services signed around 270 new partners to its Lead to Keys platform, of which one-third were new to Rightmove, helping deliver a 34% increase in rental revenue. Mortgages reported a revenue increase from GBP 2.2 million to GBP 4.5 million year-on-year, with GBP 20 billion in potential lending introduced to partners during the period.

Across the broader platform, consumer engagement remained high, with total time spent on Rightmove rising by 10% to 9.1 billion minutes  the second-highest level on record. More than 85% of traffic came from direct and organic sources. Marketing reach expanded across platforms including Instagram, LinkedIn, TikTok, and Facebook, leading to a threefold increase in engagement rates. Rightmove reported increased adoption of its premium agent packages, with 33% of independent estate agents now using the “Optimiser Edge” offering, up from 31% in December 2024. For new home developers, the recently launched “Ascend” package is already in use by approximately 150 developments.

Retention of estate agency partners reached 96%  the highest first-half rate in over a decade. Over 15 million interactions were recorded through the “Building Success Together” initiative, which includes training via Rightmove Hub, business tools in Rightmove Plus, and account manager sessions. Innovation remained a key focus, with more than 3,000 product updates released in H1 2025. New consumer tools included AI-powered filters, enhanced property valuation features, a global-first Mortgage Property Checker, and a Renters Checklist. For partners, notable releases included Buyer Profiles, Appointment Requests for developers, and an upgraded Automated Valuation Model (AVM) for rentals.

Rightmove reaffirmed its full-year 2025 guidance, expecting revenue growth of 8–10%, ARPA growth between GBP 95 million and GBP 105 million, and ~1% total membership growth. While H2FY25 is expected to deliver ongoing revenue expansion, management noted the comparative base is higher given H2FY24 was a record period. The group is targeting a full-year underlying operating margin of 70%. 

RMV shares were trading 1.31 % lower at GBX 784.60 per share as on 25 July 2025.