Rightmove's online traffic reaches new high

UK property website Rightmove said online traffic has set new records this year following the release of its new application for smartphone and tablet devices.

UK property website Rightmove said online traffic has set new records this year following the release of its new application for smartphone and tablet devices.

Traffic in the period from January 1st to April 30th reached a new high, rising 20% on the previous year, the company said in a trading update Wednesday.

April was the group's busiest month ever with 1.25bn pages viewed.

The number of Rightmove enquiries also hit record levels with an 80% year-on-year jump in April.

Mobile traffic boosted results after the launch of Rightmove apps and the optimised mobile website.

Its new mobile app has been downloaded nearly 3.0m times since its release at the start of the year.

Average revenue per advertiser (APRA) grew as a result of sales of additional advertising products and price increases.

The overall number of advertisers at the end of April was 18,526, up 1.0% on December 2012.

Agency APRA continued to improve following the adoption of further advertising products and price hikes. Rightmove agency membership at the end of April came to 15,495, an increase of 251 branches since the start of the year.

New homes APRA soared as a result of a rise in sales of advertising products, healthy demand for email campaigns and price rises. However, the number of developments at the end of April decreased by 121 to 2,315.

The firm said operating costs came between £35m to £36m as stated in the annual results in March.

A final dividend for 2013 of 14p per share will be paid on June 7th.

"With healthy growth in average spend per advertiser so far this year and

assuming there is no significant deterioration in the UK housing market, the board remains confident of meeting its expectations," the company concluded.

Shares rose 2.41% to 1,954p at 10:10 Wednesday.

RD

Recommended

Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022
Why you should short this broadband satellite company
Trading

Why you should short this broadband satellite company

With an ill-considered business plan, broadband satellite company AST SpaceMobile is doomed to failure, says Matthew Partridge. Here's how to short th…
23 Sep 2022
Share tips of the week – 23 September
Share tips

Share tips of the week – 23 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Sep 2022
Momentum investing – and why price matters more than anything else
Investment strategy

Momentum investing – and why price matters more than anything else

The recent fashion for momentum investing, with investors piling into expensive growth stocks, is nothing new, says Merryn Somerset Webb. And the dang…
21 Sep 2022

Most Popular

Why we should abolish stamp duty – the worst tax in Britain
Tax

Why we should abolish stamp duty – the worst tax in Britain

Stamp duty is Britain’s most horrible tax. We should forget cutting it and abolish it altogether, says Merryn Somerset Webb.
22 Sep 2022
Mini-Budget: stamp duty and income tax cut as Kwarteng targets growth
Tax

Mini-Budget: stamp duty and income tax cut as Kwarteng targets growth

Chancellor Kwasi Kwarteng announced sweeping tax cuts in his mini-Budget statement. Here's what was said.
23 Sep 2022
Could gold be the basis for a new global currency?
Gold

Could gold be the basis for a new global currency?

Gold has always been the most reliable form of money. Now collaboration between China and Russia could lead to a new gold-backed means of exchange – g…
22 Sep 2022