Rightmove topped the leaderboard in early trade, after its results enthused investors. It saw a 9% uplift in revenues as estate agents upped spend on the portal’s extra services to keep homebuyers engaged. Rightmove is trying to move with the times, by dramatically increasing spend on AI innovations. The scale of the spend, with a bulk of a £60 million investment due to be spent on the technology over the next three years, had caused jitters among shareholders. However, now that revenues are showing some signs of keeping up with the company’s ambitions, it’s helped quell some concerns.
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With financing cheaper and more households qualifying, buyer traffic is expected to strengthen into the key spring selling season. Kimberly Schmidt, a real estate agent at Compass Real Estate in San Diego, California, told CBS News this month that she is already seeing more buyer activity this year than last, especially from first-time buyers.