More agents have signed up to use Rightmove this year than the property search website had forecast but the newcomers are not spending as much as those with existing subscriptions.
The group’s customer count has increased by 250 since the turn of the year, with letting agents making up about two thirds of the new additions.
Rightmove had originally thought that its customer levels would edge down this year but given the busy opening few months of the year it is now guiding for a 2 per cent increase on the 18,800 or so with which it ended last year. The group does not, however, expect the rise in customer numbers to translate into bigger annual revenues and profits because the new letting agents are