Rightmove ups adjusted earnings growth, cuts revenue growth guidance

Rightmove PLC on Friday said it expects revenue growth next year to be similar to this year, as it raised its underlying earnings per share growth outlook.

The Milton Keynes-based online property portal upgraded its full-year 2026 underlying earnings per share growth guidance to at least 7.0% from at least 5.0%, but narrowed downward its revenue growth forecast to between 6.0% and 7.0% from between 6.0% and 8.0%, amid what it called challenging UK housing market conditions.

New Homes revenue in 2026 is expected to be below 2025 amid a reduction in development volume, Rightmove said.

The firm expects underlying operating profit growth of at least 3.0% this year, within its previous 3.0% to 5.0% range, while lowering its average revenue per advertiser growth forecast to £100 to £110 from £110 to £120, reflecting weaker spending by housebuilders.

Looking ahead to 2027, Rightmove expects revenue growth similar to 2026, underlying operating profit growth of 4.0% to 7.0%, and underlying earnings per share growth of at least 10%.

The company said buyer demand has fallen 10% and agreed sales are down 9.0%, while average house prices are 0.3% lower year-on-year amid elevated mortgage rates.

Rightmove noted that: "Mortgage rates have continued to rise with the average 5-year fixed-rate mortgage at 5.5% on 31 October compared to 5.0% at 30 June. Following yesterday's Bank of England base rate increase [to 4% from 3.75%], market pricing implies further base rate rises in 2027, impacting consumer affordability."

Estate agency partner retention remains strong at 92%, the company said, compared with 93% a year earlier.

Rightmove reiterated plans to return more than £400 million to shareholders between July 2026 and July 2027, including a further £80 million in share buybacks by the end of this year.

Chief Executive Johan Svanstrom said the company continues to deliver revenue and profit growth despite market headwinds, supported by product innovation, artificial intelligence tools and cost discipline.

Rightmove shares were 1.9% lower at 540.00 pence each on Friday morning in London.

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