Rightmove Revenue Up 9% as Growth Shifts Away From Core Agency Price Rises

Rightmove has reported full year 2025 results, with group revenue up 9% to GBP 425.1 million and underlying operating profit up 9%. Average revenue per advertiser grew 6.4%, the slowest rate outside the pandemic year, while revenue from outside the core business grew 25%. Highlights include:

• Group revenue of GBP 425.1 million, up 9% on 2024
• EBITDA of GBP 296.2 million, a margin of 69.7%, up from 68.0% in 2024
• Agency revenue of GBP 305 million, up 9%, of which GBP 6 million came from membership growth
• New Homes revenue of GBP 75 million, up 9%, despite development numbers falling 1%
• Strategic growth areas revenue of GBP 29.1 million, up 25%, with commercial up 13% and mortgages up almost 50%
• ARPA of GBP 1,621 per month, an increase of GBP 97 or 6.4%
• Membership of 19,272, up 225, with agency up 261 and New Homes down 36
• Agency retention of 90%, and time on site of 16.8 billion minutes
• GBP 220 million returned to shareholders, up 21%, with a further GBP 90 million buyback announced

"Revenue growth of 9% was supported by ARPA and membership increases in the core business as well as contribution from growth in our strategic growth areas," said chief executive Johan Svanstrom.

Group revenue has grown between 7% and 9.5% in each of the last four years but the mix producing that growth has changed. Rightmove has raised the price its agents pay in every year but one since 2016, and for most of that period the now infamous price rises did the heavy lifting. In 2022 ARPA rose 10.5% against group revenue growth of 9.1%. In 2025 those two numbers have swapped places, with revenue up 9.0% and ARPA up 6.4%.

The gap has been filled from two directions. Agency membership grew by 261 branches and added GBP 6 million, a second consecutive year of growth after most of the previous decade went the other way. And the strategic growth areas, principally commercial and mortgages, grew 25% to GBP 29.1 million. Revenue from outside the core reached 11% of the group, up from 10%.

Chief financial officer Ruaridh Hook described the agency growth as "driven primarily by ARPA-led gains, which continue to be mainly discretionary", meaning agents choosing to upgrade rather than being repriced on their existing package. Commercial membership grew 29% year on year, and the Online Agent Valuation product launched at an average price of GBP 170.

For 2026, Rightmove has guided to revenue growth of 8% to 10%, underlying operating profit growth of 3% to 5%, and core ARPA growth of GBP 110 to GBP 120. On a base of GBP 1,621 a month, that's roughly 7%, a shade above 2025. The guidance is given in pounds rather than percentages, and as the base rises, the same cash increase buys a smaller headline growth rate each year. Rightmove now has a set of businesses outside the core growing four times faster than the core itself.