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Mergers & AcquisitionsMediumUpdated×2•Originally published 13 November 2026•Updated 13 November 2026•
4 min read

Rightmove Raises Minimum 2026 Earnings-per-Share Growth Forecast to 7% as UK Housing Market Slows

Key Facts

1Rightmove raised its minimum forecast for underlying earnings per share growth in 2026 to 7% from 5%.
2The company expects revenue growth of between 6% and 7% in 2026, compared with a previous range of 6% to 8%.
3Buyer demand fell 10% and agreed sales fell 9% from the July results through 31 October.
4Rightmove expects underlying earnings per share growth of at least 10% in 2027.

In its update issued on 6 November, Rightmove forecast underlying earnings per share growth of at least 7% in 2026, up from a previous minimum of 5%. The company kept its revenue growth forecast at 6% to 7%, within its previous range of 6% to 8%. Chief Executive Johan Svanstrom said the company was “delivering revenue and profit growth within its previous full-year guidance, and raising its earnings-per-share outlook.” The earnings-per-share forecast increase comes as indicators of the UK housing market weaken. The company said buyer demand and agreed sales had fallen from its July results through 31 October.

Buyer demand fell 10% and agreed sales fell 9% from the July results through 31 October, according to Rightmove. The company said persistently record-high inventory levels were putting downward pressure on house prices. On 31 October, the average house price was 0.3% below its level on the same date a year earlier. By contrast, rents rose 2.9% year on year through 31 October, as enquiries per available rental property increased. The average five-year fixed mortgage rate was 5.5% at the end of October, compared with 5.0% on 30 June.

Rightmove linked its lower revenue growth forecast to spending by new-home developers, cutting its estimate for growth in average revenue per advertiser to between £100 and £110, from a previous £110 to £120. The company said the adjustment fully reflected developers’ spending dynamics. It expects new homes revenue in 2026 to be below its 2025 level because of a lower number of developments, with growth in average revenue per advertiser only partly offsetting the decline. The number of developments under way on 31 October was 6% below its level on 31 December 2025. It also forecast underlying operating profit growth of at least 3% in 2026, within its previous range of 3% to 5%.

The company pointed to mixed indicators across its business: estate agency partner retention was 92% through the end of October, its second-highest level in ten years, compared with 93% in October 2025. Rightmove said users of its “Ask Rightmove” group spent more than twice as much time on the site, saved three times as many properties and sent more than three times as many leads as non-users. Its AI-powered call transcription feature had recorded more than two million live calls since its launch in late third quarter. About 14,000 estate agents had used the AI assistant in Rightmove Plus by the company’s update. These indicators put continued engagement by partners and users alongside weakness in the housing market.

On shareholder returns, Rightmove said it had returned about £125 million since 31 July 2026 through its 6 November update, comprising an interim distribution of £30 million and share buybacks of £95 million. The company expects to return more than £400 million to shareholders between 31 July 2026 and 31 July 2027. It also expects to return an additional £80 million through share buybacks by the end of 2026. These amounts show the scale of the capital return programme the company announced alongside its operational forecast update. Rightmove shares fell 3.8% in early trading on 6 November before reversing course to rise 0.7% at 08:30 GMT, according to a Reuters report published via Euronext.

Looking ahead to 2027, Rightmove expects revenue growth at a similar rate to 2026, with underlying earnings per share growth of at least 10%. The company attributed its revenue outlook to the continuation of current market conditions, including the full impact of a lower number of new-home developments and a subdued estate agency market. It also forecast underlying operating profit growth of between 4% and 7%, and an underlying operating margin of at least 67%, citing product launches, productivity gains and cost discipline. The UK government’s “First Homes” programme for first-time buyers is expected to launch in the second quarter of 2027. Rightmove said any positive effect of the programme on homebuilding volumes may not emerge until later in 2027 and beyond.