Property website makes all the right moves
Tuesday, August 31, 2010 at 5:42PM Top property website revenues up despite housing slump
If the medium is good it can weather the storm.
Rightmove managed to increase sales against a backdrop of poor housing sales. Half-year operating profit is 40 percent higher than the same period last year at £27.9 million, on 26 percent higher income of £42.3 million.
It says all its growth has come from estate agents advertising new and reopened business premises, rather than either agents’ or direct customers’ home ads. Indeed, the number of ads for new housing developments has declined significantly.


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