March marked the seventh straight monthly fall in house prices and the worst decline since the financial crisis. It comes as the rapid rise in mortgage rates is testing Rightmove’s impregnability for the first time in more than a decade.
The online property portal’s revenue stream is not directly linked to the volume of listings on its site, nor to house prices, but it is reliant upon the health of estate agents and the housing market. Revenue growth depends on increasing membership among estate agents and housing developers looking to market their properties, alongside upselling additional and more expensive services to those advertisers. Both will prove more challenging this year.
Market dominance is Rightmove’s greatest asset, but achieving a near monopoly has come with
