Rightmove boosted by rising demand
British property website Rightmove scrapped an upper ceiling for its market share today after reporting strong demand from estate agents and developers.
In its first trading update since listing on the London stock market, Rightmove said it was confident that revenues and pre-tax profits for the full-year would exceed the top end of the range of City forecasts.
It added that it no longer saw an upper limit of 80% on market penetration after three of its 10 operating regions breached the level. East Anglia reached 87%, followed by the South East and East Midlands at 86% each.
Growth in customer numbers saw the number of estate agent offices on its books increase by 21% on December 2005 to stand at 10,360 in June.
The addition of business from George Wimpey, David Wilson and Redrow Homes meant the usage of its website by new homes developers rose 53% to 2,367.
