Rightmove benefits from property boom with return to pre-pandemic profit levels

Property platform Rightmove has reported the highest profit levels for the past two years.

In its trading update for the half year ending June 30, the firm has seen a 86 per cent uplift in profit compared with 2020, and a 6 per cent increase on 2019.

The firm, which began offering virtual viewings during the pandemic, has continued to develop its digital capabilities as well as rolling out its Optimiser 2020 offering.

Peter Brooks-Johnson, chief executive officer, commented: “The first half of 2021 brought further lockdowns, instilling in many a desire or motivation to move home, and the nation relied on us to help them to find their new life, with a record 10.4bn minutes spent searching and researching on Rightmove.

“The innovation we have delivered to help home-hunters find their happy home, despite the restrictions, have been well used - with 200,000 video viewings and 160,000 rental viewing appointments made on the platform.

“I’m excited about the range of our plans - including our new digital mortgage and rental journeys - as we continue to help to make home-moving easier in the UK.”

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