Peter Brooks-Johnson won’t be getting the easy exit he might have hoped for after 16 years as chief executive of Rightmove. The rise in mortgage rates after the chaos in the gilt market has exacerbated affordability pressures on existing and wannabe homeowners. House prices had already shown signs of weakening after reaching record levels on the back of the stamp duty break and a supply shortage.
For property portal Rightmove, which is reliant upon the health of estate agents and housing market, circumstances look ripe for its performance to disappoint market expectations. The consensus forecast for underlying profits this year stands at £246 million, which would be 6 per cent higher than the record achieved last year amid a booming housing market, and a further
