Regional News

Times tells investors to sell Rightmove shares

By Editor 0 Comments NEWS, Regional News

In a shocking turn of events, it was in the Tempus column in The Times which warned Rightmove shareholders to sell their Rightmove shares. The column, written by Miles Costello, said Rightmove's “growth options look limited in a market that is already wildly competitive and set to become more so”.

Rightmove has over 800,000 properties for sale throughout the UK, giving you the UK's largest selection of new build and resale homes. Listing an extensive range of houses, flats, bungalows, land and retirement homes, Rightmove makes it easy for you to find your next happy home regardless of whether you're a first-time buyer, upsizing, downsizing or relocating.

The column does, however, base at least some of its arguments on a big misconception, confusing online agents with portals. It starts by saying that Rightmove’s “upstart rivals” include ZPG, Purplebricks, OnTheMarket, and Emoov. Given that ZPG is hardly an upstart, and that Purplebricks and Emoov were agents and not portals when we last looked, that’s a very large fly in the argument.

However, the column is interesting in analyzing why Rightmove shares, which peaked in June at 535p, have since lost more than a fifth in value.

“Rightmove’s perceived reliance on fees paid by estate agents, and its ability to keep putting up its prices, has had analysts fretting.

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