UK property portal Rightmove has reported a 7% increase in revenue for the second half of 2024, reaching approximately £390 million, and is forecasting further growth of 8% to 10% in 2025.

Despite this revenue rise, pre-tax profit saw a slight dip of 1% year-on-year, falling from £260 million to £258 million. However, underlying operating profit increased to £273.9 million, up £9.3 million from the previous year.

User engagement on the platform also grew, with a 6% rise in activity, totalling 16.4 billion minutes spent on Rightmove in 2024. The final dividend for the second half of the year stood at 6.1p per share, bringing the total for the year to 9.8p, a 7% increase from 2023.

Rightmove returned £181.7 million to shareholders through dividends and share buybacks in 2024, down from £201.7 million the previous year.

Chief executive Johan Svanstrom said the results highlight the “resilience” of Rightmove’s business model, with the platform attracting 2.3 billion visits last year. He added that Rightmove continues to invest in technology, rolling out more than 5,000 AI-driven updates and enhancements in 2024.

“Our strategy is focused on further digitising the home-moving market, leveraging the UK’s largest property data and insights platform,” he said. “There is significant potential to expand and enhance our services, and we’re maintaining that momentum into 2025.”

Rightmove was also revealed to be the fourth most-visited UK-based digital platform in 2024, trailing only the BBC, Reach, and Gov.uk.

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