LONDON, March 24, 2026, 20:38 GMT
- Rightmove ended Tuesday at 418.7 pence, slipping 1.25%. The stock now sits near its 52-week low. 1
- The company snapped up 225,000 shares on March 24, paying an average of 423.880 pence per share as part of its £90 million buyback that kicked off in February. 2
- UK mortgage rates surged, putting fresh pressure on housing-related shares, while Bellway flagged the risk of slower sales for April. 3
Rightmove Plc finished Tuesday’s session weaker, tacking on more losses for the FTSE 100 company despite news of fresh share buybacks. The UK property portal’s stock settled at 418.7 pence, off 1.25% for the day and hovering only 8 pence above its 52-week low of 410.7 pence. 1
This matters for Rightmove right now: the stock’s off 7.3% in just a week and down 19.4% since the start of 2026. Investors are sizing up cash return plans, but worries persist—spending on artificial intelligence could easily crimp profits for a while. 1
Rightmove snapped up 225,000 shares on March 24, paying an average of 423.880 pence, according to a filing. The day before, the company had picked up another 200,000 shares at 430.056 pence apiece. Both batches are set for cancellation. The filing on Tuesday pegged the total number of shares bought back since 2007 at 549.3 million. 2
The buybacks form part of a £90 million plan that Rightmove rolled out alongside its full-year results on Feb. 27. Back then, the company posted 2025 revenue at £425.1 million with operating profit reaching £287.9 million. “We have entered 2026 with confidence in our performance,” Chief Executive Johan Svanstrom said. 4
The picture for housing turned bleaker Tuesday. According to Reuters, Britain’s average two-year fixed mortgage rate climbed to 5.51%, up from 4.83% since Feb. 28. Banks yanked 21% of mortgage products as they scrambled to reprice, blaming the recent market swings. 3
The stakes are high for Rightmove, as its web traffic and revenue from agents generally mirror shifts in housing activity. On Tuesday, Bellway—one of Britain’s top homebuilders—lowered its operating margin forecast for 2026, flagging renewed volatility in mortgages. “Serious buyers are still there,” Chief Executive Jason Honeyman said, but he also cautioned that April could bring weaker sales rates. 5
Rightmove’s March house-price index showed a market inching forward, lacking real momentum. Sellers on average bumped up asking prices by 0.8% to £371,042. But the volume of homes listed hit its highest level for this point in the year since 2013, with company property expert Colleen Babcock summing up the tone as “steady rather than strong.” 6
Rightmove maintains a dominant edge over UK portal competitors Zoopla, Primelocation and OnTheMarket. In its February release, Rightmove reported holding 89% of all time spent on UK property portals as of December 2025. More than 85% of its traffic reached the site directly or via unpaid search, according to the company’s numbers. 4
Still, rates pose a clear hazard. On Tuesday, Reuters flagged a sharp rise in British public inflation expectations for March—up to 5.4% from 3.3% the month before. Last week, a Reuters housing survey trimmed its projection for UK home-price gains in 2026 to 2.5%, down from 2.8%. “There has been a change in our outlook,” said mortgage broker Ray Boulger. 7
So far, the market isn’t buying it. Rightmove continues to repurchase shares and keeps a tight grip on consumer eyeballs, but the stock trades well under its 827 pence high from the past year. Investors, it seems, are holding out for firmer proof that rising AI costs, choppy mortgages and consistent payouts can all line up. 1
