aboutmyplace.co.uk is killing rivals in traffic rankings
October 22, 2007 at 12:32 pm | In aboutmyplace, property2.0, rightmove | 4 CommentsRightmove’s 2.0 map service aboutmyplace.co.uk is killing rivals in traffic rankings according to Alexa:
We spoke with a Rightmove official last week, who candidly told us they were not really making an effort with the service
Rightmove lifts embargo
September 14, 2007 at 2:12 pm | In breach, media, rightmove | Leave a CommentAfter today’s unauthorized breach of the Rightmove September Index [pdf], the company has now decided to release the full report, in order to avoid “potentially misleading and selective reporting of the full September 2007 report.”
HIGHLIGHTS:
Rightmove claim that average asking prices have fallen by 2.5%, but blame the fall on the HIP kerfuffle as opposed to overall market conditions.
Greater London average asking prices’ dropped by 2.5% in September to £384,439
from £394,268 in August. The last time we saw such a negative figure was in August 2004, when prices dropped 4.3 % in a month. However, the lower number of ‘higher priced’ 4+ bedroom properties coming onto the market after the August 1st implementation of HIPs does exacerbate the average price drop, though the London market has fewer large properties than the rest of the country. Distortion of normal market forces will continue into next year due to HIPs implementation and phasing according to bedroom numbers.
[Full PDF]
Rightmove – "60% rise in six-month profit"
August 31, 2007 at 10:45 am | In advertising, investment, media, rightmove | Leave a CommentSo much for the cooling market, it certainly ain’t cooling online, with Extate’s new money and Rightmove’s expanding profit margin, certainly the right place to be investing – at least for the moment:
[Reuters]
Rightmove Plc, which runs Britain’s busiest property website, reported on Friday 13.2 million pounds ($26.5 million) in underlying operating profit for the six months to end June, as the number of advertisers rose by 26 percent and visits to its property website increased by 58 percent.
“We expect to generate a similar level of year-on-year growth in the second half … Property agents have to sell houses in a slowing market, and so they are doing promotions … We do not see any noticeable deterioration in our business,” Managing Director Ed Williams told reporters.
He said the length of time properties were staying on the market was rising, however.
Britain’s housing market has slowed as five interest rate increases in less than a year to 5.75 percent and expectations of another hike to 6 percent damp buyer interest.
Rightmove earns subscription fees from its customers such as estate agents, rental agents and new home developers in exchange for allowing them to advertise properties, new developments and rental properties.[more]
Oodle.co.uk now claiming more properties than Rightmove!
July 13, 2007 at 5:00 pm | In classified, oodle, property, rightmove, search | 2 CommentsGreat to be back in London (not … where’s the sun???).
As usual lots going on in our property world; been glued to the critically acclaimed Rat and Mouse at every opportunity (congratulations Ben!)
Anyway I got an email this afternoon from Duncan Dunlop at Oodle.co.uk, claiming that with almost 900,000 properties listed for sale they now have a larger sales database than Rightmove, the portal giant that pretty much everyone in UK property loves to hate.
Of course Oodle is not the first to claim a bigger database than Rightmove; Henry Pryor’s Primemove currently boasting 1,122,066 properties advertised, and proudly claims to be “the largest online selection of available UK Properties”.
Search giant Nestoria (yes they are giants) also claim over 800,000 listed properties although they do cover 2 countries and I’m not sure the breakdown for each individual country.
It’s arguable that the main reason Oodle has grown so quickly is because they’re primarily a classified site. Crucially Oodle doesn’t crawl the internet for data, relying instead on strategic partnerships with content providers and publishing giants. More importantly, Oodle also seamlessly allows FSBO listings alongside those from estate agents, a strategy that generated a lot of heat when retailing giant Tesco’s attempted it recently. Wonder why the same hasn’t happened for Oodle?
Rightmove’s profits double; announces new map service
March 2, 2007 at 3:29 pm | In countrywide, ftse, rightmove | Leave a CommentRightmove plc, the self proclaimed “number one property website,” today announces results for the year ended 31 December 2006, its first full year results following flotation on 15 March 2006
Highlights:
* 85% revenue growth from £18.2m to £33.6m
* Pre-tax profits increase 101% from £8.8m to £17.7m
* Website usage up more than 80% over 2005 and consistently top 10 (Hitwise)
* Overall advertiser membership increased 42% from 11,483 to 16,321
* Pipeline of new advertising products and services on track for Q1 2007
delivery
* Customer members (estate agents) up 42% to 16,321 (2005: 11,483)
* 93% Customer retention rate for the third year in succession
* Announces new interactive map service Aboutmyplace
* continued benefit from commercial agreement between Rightmove and Countrywide including the agreement to list all Countrywide properties until at least March 2009.
Rightmove kills the Countrywide deal
January 26, 2007 at 7:41 pm | In countrywide, ftse, rightmove | Leave a CommentThe Countrywide takeover bid failed today, mainly because of the bullish data from their subsiduary Rightmove:
Three investors owning about 17 percent of Countrywide said this month that the offer doesn’t reflect the U.K.’s booming property market. House prices rose 13.5 percent in the year ended Jan. 13 … according to Rightmove Plc.
Word of advice to Henry Hill and his posse … Engage Buffet strategy; monitor bubble hysteria then move in for the kill
Countrywide deal "on a knife edge"
January 15, 2007 at 8:36 am | In countrywide, deals, ftse, rightmove | Leave a CommentThe Independent reports that major shareholders are expected to revolt against the proposed takeover bid led by Henry Hill and 3i at todays shareholders meeting. In effect, the rebel shareholders think the company is undervalued, and argue that the offer does not reflect the health of the UK housing market, but outgoing chairman Sir Christopher Sporborg feels they’re being “slightly optimistic”.
Countrywide is urging investors to accept the offer, pointing to the Bank of England’s decision to raise interest rates and recent house price surveys to suggest that the UK housing market is cooling. Shareholders are voting at 10:30 this morning on the fate of the proposed takeover. Standard Life, Artisan Partners, Boussard & Gavaudan and US hedgefund Jana are spare heading the revolt. Polygon hedge fund and UBS bank raised their stakes in the company on Friday. Whether the deal goes through or not is “on a knife-edge,” according to a source close to Countrywide. Countrywide also owns 21.5% of Rightmove, the UK’s largest property search portal
UPDATE – Shareholder meeting delayed
via Bloomberg:
3i requested the delay in order to consult Countrywide’s main shareholders
Update – Jan. 18th
Countrywide announces shareholder meeting to reconvene on 26th January
Rightmove goes international/Is Miles in the house?
January 4, 2007 at 1:45 pm | In marketing, rightmove | Leave a CommentRightmove.co.uk recently launched Rightmove Overseas, a service which includes maps and country guides and currently yields 44,000 listings from over 70 countries. The portal also has imminent plans for a major TV ad campaign starting on ITV, Channel 4, Channel Five and a mix of the most popular satellite stations.
BUT IS MILES IN THE HOUSE?
When I checked Rightmove’s executive page this afternoon Miles Shipside is no longer listed as commercial director; in fact he’s no longer listed period, and there seems to be major re-construction of the executive team. No doubt changes have been made since the Countrywide split.
Update – 05/01/07 10:50
Miles is still in the house; here’s the correct link to his profile courtesy the Rightmove PR team (thanks guys)
KFH signs deal with Rightmove and Primelocation
January 2, 2007 at 6:28 pm | In agents, london, rightmove, search | Leave a Comment
London based Kinleigh Folkard & Hayward announced today that they have finally signed up with Primelocation and Rightmove. Beginning this month the company will list from 50 branches in London; “60 per cent of our buyers and 50 per cent of our tenants will look at a property portal before any other activity when looking for a new home and overall, 83 per cent of our buyers use a portal as part of their search. We have taken a very measured approach to online marketing and through our analysis it is an undeniably powerful tool in today’s market place,” claims Paul Masters, KFH Marketing Director.
Miles Shipside defends Rightmove
December 13, 2006 at 9:21 am | In countrywide, media, rightmove | Leave a Comment
Last weeks controversial Mail on Sunday article, claimed Rightmove.co.uk was selling confidential data to the Valuation Tax office. In today’s edition of Estate Agency News, Rightmove’s commercial director Miles Shipside defended the allegation, claiming the MoS article was “an attack on the estate agency profession”:
The Valuation Office is one of the largest employers of professional surveyors in the UK and naturally uses comparable evidence from a wide variety of sources, including, most importantly, the sale prices from the Land Registry. Like other surveyors, Valuation Office employees search on Rightmove as well as other property portals and estate agents’ own sites. The Valuation Office approached Rightmove to license our Market Comparable Reporting Tool, which is widely used by Rightmove member agents. Using this tool helps the Valuation Office achieve high standards of accuracy and saves them time and money that would otherwise be spent searching properties advertised online and on agents’ own websites. I can reassure our members and their clients that Rightmove does not pass any property data to the Valuation Office and that they have no access to personal client data. All the information which the Valuation Office has access to has been freely available in the public domain whether on Rightmove, other property portals or agents’ own websites.
In other Rightmove news; in a comment concerning yesterday’s announcement on the sale of parent company Countrywide, the popular website claimed that as of Dec 8, estate agent members had increased to 11,170 from 10,360 at the end of June and that total membership for all lines of business has grown to more than 16,000 from 14,680 at the half year.
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