Rightmove hits 10-year agent retention high amid UK property revenue shift
Rightmove achieves a 10-year high in agent retention and rising revenue, though a weak new-build market prompts a cut to its revenue forecast.
Rightmove has reported a significant milestone in the UK property market, recording its highest agent retention rate in a decade. This increase in loyalty among estate agents coincides with a rise in the portal’s overall revenue, indicating strong engagement from the industry’s intermediaries despite broader economic headwinds.
The property portal attributes part of this success to the deployment of artificial intelligence tools, which are now generating a higher volume of valuation leads for registered agents. These AI-driven insights appear to be enhancing the platform’s utility, helping agents secure more instructions and maintain their partnership with the leading UK property website.
However, the report also highlights a contrasting trend in the new-build sector, which is currently performing weaker than anticipated. Due to this specific market softness, Rightmove has been forced to lower its revenue forecast for the period. The divergence between strong agent retention and a challenging new-build market underscores the mixed conditions currently affecting different segments of the UK property industry.