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Rightmove has reported a weaker housing market in a trading update published on Friday 6 November, with buyer demand down 10% and agreed sales 9% lower than a year earlier as higher mortgage rates weighed on buyers.

Average asking prices were 0.3% lower at 31 October than a year earlier, and the average five-year fixed mortgage rate had risen from 5.0% at the end of June to 5.5% at the end of October. The portal said record levels of available stock were pressing down on prices, while active new-home developments on its platform were 6% fewer than at the end of December 2025.

Forecast trimmed, earnings guidance raised

Rightmove trimmed its 2026 revenue growth forecast to 6% to 7%, from 6% to 8%, and cut its forecast for growth in average revenue per advertiser to £100–£110, from £110–£120, blaming weaker spending by housebuilders. But it raised underlying earnings per share growth guidance to at least 7%, from at least 5%, and still expects underlying operating profit to rise at least 3%.

For 2027 it expects revenue growth broadly similar to 2026, operating profit growth of 4% to 7% and earnings per share growth of at least 10%. Chief executive Johan Svanstrom said the business remained on course to meet its full-year financial expectations.

Returns to shareholders continue

Rightmove said it expects to return more than £400 million to shareholders between July 2026 and July 2027, having returned about £125 million through dividends and share buybacks since the end of July, with a further £80 million of buybacks planned before the end of the year. Estate agency partner retention stood at 92% at the end of October, down from 93% a year earlier, its second-highest October rate in a decade, the company said.