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City & Business

RIGHTMOVE CLICKS ON ADVERTISING

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No housing market gloom for Rightmove

Saturday August 30,2008

By Sabuhi Mir

Property website Right­move shrugged off gloom surrounding the housing market to report a 63 per cent rise in first-half pre-tax profits to £19.8million.

Although its estate agent clients are finding the going tough, it has had more business from housebuilders  stepping up their marketing.

“These strong results are testament to the importance of the internet and show how people buy their homes,” said managing dir­ector Ed Williams.

Page impressions for the website rose 15 per cent to 3.1billion compared with 2.7billion a year earlier and membership grew 5 per cent despite a fall in the number of estate agents.

Right­move’s total revenue increased 49 per cent to £37.8million, compared with last year, driven by strong growth in revenue per advertiser and its ­lettings and new homes businesses.


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