Rightmove reports 7% revenue growth with AI expansion
Property portal Rightmove has reported a 7% year-on-year revenue increase to £225.8 million for the first half of 2026, up from £211.7 million in the same period last year, according to its latest financial results.
The company’s operating profit reached £148.2 million, a 2% increase compared to H1 2025, while underlying operating profit rose 3% to £155.1 million.
AI deployment and lead generation
The portal has deployed 46 strategic AI initiatives, up from 31 in December 2025. Its ‘Ask Rightmove’ conversational search tool has been implemented across property listings, which the company states has resulted in higher engagement and lead conversion rates.
The AI-enabled online agent valuation tool has contributed to approximately 50% total increase in unique valuation leads to estate agents. For new homes developers, four new or enhanced products have supported a threefold increase in direct appointments booked.
Chief Executive Johan Svanstrom said the company delivered its highest H1 retention rate in more than a decade, with agency membership growing 1% during the period. Technology product releases increased by 40% year-on-year in the first half.
Market challenges and legal action
Despite the revenue growth, Rightmove’s share price has declined 42% so far this year. The company faces ongoing legal action over its estate agent fees, led by former Competition and Markets Authority panel member Jeremy Newman, which seeks to recoup fees potentially reaching £1.5 billion on behalf of participating estate agents.
The portal’s year-end 2025 results showed revenue rose 9% to £425.1 million, driven primarily by agents and developers upgrading packages and increasing product usage. This growth comes as UK property transactions now take 216 days to complete, creating challenges for the broader market.
Anthony Codling, Managing Director at RBC Capital Markets, noted that the revenue guidance reduction reflects weakness in the New Homes sector rather than demand problems in the core Agency business. He stated that Rightmove’s increased share of time spent on portals provides foundations for future profit growth, particularly as first-time buyers face rising mortgage costs and deposits.
The company reported 40% more technology product releases in H1 compared to the previous year, with profit guidance remaining unchanged despite the revenue adjustment. Codling described Rightmove as ‘an AI winner not a loser’, citing evidence that ‘Ask Rightmove’ is driving higher engagement and lead conversion.
