Rightmove slides as it expects membership numbers to flat-line in 2021
Cash conservation is less of a concern now with the property listings website operator looking forward to lockdown restrictions being eased
Company
Rightmove PLC
LON:RMV
Rightmove Group operates in the United Kingdom residential property industry connecting people to properties. Its principal business is the operation of the Rightmove.co.uk website.
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Rightmove subsides as analysts say housing market is not quite what it seems
“Near-term discounts are papering over the cracks, in our view, and both cyclical and structural headwinds will resurface sooner rather than later,” the bank said in a note
UK enjoys mini-housing boom as July sees £37bn of deals
More property is coming onto the market than a year ago says online estate agent Rightmove
Builders and building materials
UK housing market current boom could soon turn to bust
Estate agents are worried about the economic outlook as the government furlough scheme comes to an end in the autumn
Rightmove sees demand spike as people want to move home after lockdown
Demand for property sales and rentals were up 50% and 20%, respectively, in June and July, the FTSE 100-listed group said
Rightmove appoints former News UK top manager as new chief financial officer
Alison Dolan was chief strategy officer of media company News UK from 2016 until last May
Rightmove knocked down to ‘sell’ as Berenberg warns of risks amid agent backlash
The broker said the risk of a rebellion from estate agents meant its will be "near-impossible" for Rightmove to return to its previous levels of price increases
Rightmove extends agency discounts until September taking a £17-20mln revenue hit
The firm already factored in a £65-75mln impact for discounts in the four months to July
Housing market restart will provide boost but may be short-lived
The pipeline of sales transactions that are in different stages of progress should be able to complete fairly quickly, analysts said, benefiting cash flows for estate agents and housebuilders
Rightmove confident in liquidity position after acceptance on government scheme
The online property portal had a cash balance of £32.1mln at the end of December
Rightmove cancels final dividend amid coronavirus uncertainty
Cancelling the payout will allow the property portal to save £38mln
Rightmove cuts prices by 75% to help struggling estate agents
The property website had previously decided to defer payments
Rightmove drops guidance, allows payment deferrals to certain agents
The initiative is for smaller agents who have been the platform for at least a year
Rightmove ‘sell’ sign removed by UBS
With various reports indicating UK property market trends have improved since the general election, the analysts think this reduces the risk of a continues trend of estate agent losses into the second half
Rightmove hikes dividend as profits boosted by agencies and new homes
The company added that “post-election stability” had led to an “optimistic" start to 2020 for the UK property market
Rightmove upped to ‘neutral’ as JP Morgan predicts “strong transformation” in online classifieds sector
The bank is expecting new growth in the space as established players turn to new business models to succeed
Rightmove appoints former Shazam CEO as new chairman
Andrew Fisher will succeed outgoing chairman Scott Forbes, who will retire at the end of the year after more than 14 years in the role
Rightmove's finance director moves on
Robyn Perriss will end her six-year tenure as finance director at the FTSE 100 group next year
Rightmove a 'sell' for Shore Capital as teeters at "tipping point"
The analysts said estate agents “are likely to prove increasingly resistant to paying more - particularly in view of the highly competitive nature of the residential property market”
Rightmove keeps revenue and profit chugging along despite fall in agency numbers
Average revenue per advertiser (ARPA) grew more strongly than anticipated, up 9.1% year-on-year to £1,077 per month