Editor's note: This brief was summarised by The Property AI Team from a report by Property Industry Eye. Read the original article for full details.
Rightmove Reports Decade-High Agent Retention and Revenue Growth
Rightmove has reported its highest first-half agency retention rate in more than a decade, alongside increased revenue from estate agency customers. The property portal also noted a 1% rise in agency membership during the first half of 2026, with agency revenue up 9% as more customers upgraded to higher-tier packages and adopted additional products.
The company highlighted that its AI-enabled online valuation tool generated around 50% more unique valuation leads for estate agents. Additionally, the recently launched “Ask Rightmove” conversational search feature increased consumer engagement and improved lead conversion.
Rightmove stated it released 40% more technology products and enhancements in the first half of 2026 compared to the previous year, and currently has 46 AI initiatives under development. New AI-powered workflow tools for estate agents are expected to launch in the second half of the year.
Despite these gains, Rightmove lowered its full-year revenue growth forecast due to continued weakness in the new homes sector. The number of new-build developments fell by 6% compared to a year ago, leading the company to revise its expected group revenue growth for 2026 to between 6% and 8%, down from previous guidance of 8% to 10%. However, operating profit and earnings guidance remain unchanged, supported by ongoing cost control.
Financial highlights for the first half of 2026 include revenue of £225.8 million, a 7% increase on the previous year, and operating profit of £148.2 million, up 2%. Agency revenue grew by 9%, while new homes revenue increased by 2%.
Rightmove also announced plans to return more than £400 million to shareholders over the next 12 months, including around £330 million through an expanded share buyback programme, funded by cash generation and a new £200 million revolving credit facility.
These developments are particularly relevant for UK letting agents and inventory clerks, as Rightmove continues to expand its suite of AI-powered tools and technology enhancements aimed at improving lead generation and workflow efficiency.
Source: Property Industry Eye