Rightmove has recorded a 7% rise in revenue to £389.9m in its latest annual results, after the property portal attracted more users in 2024.

The group’s operating profit in the year dipped slightly, by 1% to £256.3m, which it said was due to the “impact of one-off transaction-related charges of £9.2m”.

Rightmove was posting its results for the year to 31 December and revealed that traffic on its platform grew by 6% on 2023 with a total of 16.4 billion minutes spent on the platform.

The company’s headcount grew by 14% to just under 900 employees, with 60% of new recruits appointed into technology roles, while Rightmove also returned £181.7m of surplus cash to shareholders through share buybacks and dividends during the year.

CEO, Johan Svanstrom, said that the results had demonstrated the “resilience” of Rightmove's business model and that the group was confident for the year ahead.

“We have a clear strategy to further digitise the home moving market, powered by the UK's largest set of property data and insights,” Svanstrom said. “There is a long runway of opportunity to both broaden and deepen Rightmove’s services on one connected platform, and our team is continuing to drive that momentum in 2025.”

Investment director at AJ Bell, Russ Mould, commented that Rightmove had “painted an encouraging picture” of the outlook for 2025 alongside its latest results.

“Being the market leader creates a virtuous circle for Rightmove,” Mould commented. “Its site has the most listings and is therefore the one which prospective property buyers will go to when looking for their next home. This reinforces its position as a must-have product for estate agencies and provides it with significant pricing power when it comes to securing subscriptions from agencies.

“Having rebuffed bid interest from Rupert Murdoch’s REA vehicle last year, Rightmove is under pressure to deliver for shareholders and the latest numbers go some way towards doing that.”

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