Rightmove unpacks record traffic figures as sales demand increases by 50 per cent

Real estate company Rightmove has reported that it has seen record traffic on its site since the easing of lockdown in the UK.

The business recorded 65 days since 13 May that beat its previous traffic record, as well as a 50 per cent increase in demand for sales properties.

Despite the uptick since the housing market reopened, the company saw its revenues for the first half of the year drop by 34 per cent, going from £143.9m in 2019 to £94.8m.

The housing market was “effectively closed” for nearly a third of the first six months of the year - 23 March to 13 May.

Peter Brooks-Johnson, CEO of Rightmove, said: “Following the reopening of the housing market on 13 May housing market activity is at record levels, with evidence of new home hunters coming into the market with changing needs as they reassess their priorities and further incentivised by the temporary stamp duty holiday.

“Rightmove has extended its lead as the place home hunters turn to first for their move.

“It’s quite incredible that 65 of our record days have been since 13 May.

“I’m pleased that our customers are choosing to invest in our digital solutions to take advantage of this record demand.

“Despite the current strong market we’re mindful that potential economic challenges and further Covid restrictions in the second half of the year make it hard to predict how sustained the increase in activity will be.

“Rightmove’s purpose is to make home moving easier in the UK and the restrictions placed on our daily lives because of Covid have shown the value of the innovations we are delivering to better enable this.”

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