Rightmove has maintained its trading outlook for the full financial year as the property platform reiterated its expectation of 8-10% revenue growth in 2025.

The FTSE 100 group has overseen a growth in its membership numbers as conditions in the UK’s housing market have improved over the course of the year to date, while listings have also hit a 10-year high on its platform.

Following the Bank of England announcing a 0.25% cut to interest rates yesterday, Rightmove stated that mortgage rates are “reducing with a favourable outlook for further potential bank rate cuts”.

In a trading statement to the London Stock Exchange, Rightmove said it was “looking ahead with confidence” as it also revealed it would continue to expect an underlying operating profit margin of 70% across the full financial year.

“We’re pleased to have started 2025 with good financial, operational and strategic momentum,” Rightmove CEO, Johan Svanstrom, said. “In particular, we’re making strong strides forwards in delivering new tools and products to make the property journey smoother for both consumers and our partners.

“In the current uncertain global climate, our UK-focused, subscription-based and B2B-oriented business model means that we are comparatively well insulated from the volatility that some other companies and industries are having to contend with. We look forward with confidence and are today reiterating our expectation of delivering 8-10% revenue growth this year.”

Investment director at AJ Bell, Russ Mould, commented that being the market leader creates a “virtuous circle” for Rightmove.

“Its site has the most listings and is therefore the one which prospective property buyers will go to when looking for their next home,” Mould noted.

“This reinforces its position as a must-have product for estate and letting agencies and housing developers and provides it with significant pricing power when it comes to securing subscriptions. The company cannot afford to be complacent and is looking to provide more insights to its client base.

“Better market conditions are helpful, with mortgage availability and affordability improving, but Rightmove has held up through previous housing market downturns. In this scenario every sale became even more prized to the client base, so Rightmove’s ability to support this process becomes ever more important.”

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