Rightmove (LON: RMV) shares edged lower on Friday, falling as much as 0.8% to an intraday low of 422p before settling down 0.6% at 425.4p, as investors digested the UK property portal’s AGM trading update for the four months to 30 April 2026.
The company moved to reassure markets, reaffirming its full-year guidance of 8-10% revenue growth, alongside expectations for underlying operating profit growth of 3-5% and underlying earnings per share growth of at least 5%.
Management cautioned, however, that first-half growth will lag the second half, partly due to subdued New Homes build rates and a strong mortgage revenue comparator from the prior year.
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Within its core estate agency and New Homes business, Rightmove reported continued product-led average revenue per advertiser (ARPA) growth, while total core membership has risen since year-end.
The company’s Strategic Growth Areas — Commercial Property, Mortgages and Rental Services — remain on track to deliver 20-30% revenue growth for the full year.
On the macro backdrop, Rightmove flagged that average two- and five-year fixed mortgage rates have climbed to 5.1%, up from 4.3% and 4.4% respectively at the end of December 2025, a potential dampener on buyer sentiment. Despite this, available resale listings hit an eleven-year high, running 1% ahead of the same point last year.
The company also highlighted a sharp acceleration in its technology output, recording over 2,500 product releases in the first four months of the year — more than 20% above the equivalent 2025 period — and expanding its live AI initiatives from 31 to 43. It also launched a new national brand campaign, ‘Glow’, set to reach 90% of UK target adults across TV and digital channels.
Chief executive Johan Svanstrom said the business had “executed strongly” and was “innovating across our platform faster than ever before,” adding that early engagement with Rightmove’s AI-powered conversational search tool showed “long-term potential.”
Rightmove has also completed £44m of its £90m share buyback programme, which is due to conclude by 31 July 2026.
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