Property website Rightmove today said the “toughest property market conditions in a generation” were behind it as it returned to growth with record buyer activity.
The group said its site had seen the most visitors in its nine-year history on August 10 as the housing market recovery picked up pace.
Rightmove’s figures for the six months to June 30 revealed the impact of the property sector slump earlier this year, with pre-tax profits down 8% to £18.2m.
But the firm said steadily improving conditions over the summer months had driven higher membership numbers, with July seeing the best monthly revenue growth for the year to date and the second highest ever monthly operating profit.
It now expects to beat market forecasts for full year results, although it said figures may “not quite” match last year’s £41m in earnings.
