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Prefer JPmorgan over Golman Sachs.
JPMorgan cuts Rightmove to 'underweight' (neutral) - price target 493 (585) pence
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Goldman Sachs raises Rightmove price target to 667 (659) pence - 'neutral'
Nice marketing move from the RMV boys. First, Train takes a stake last week, second, broker upgrades to buy today, thirdly, issues trading update. All after a plunge in the share price mid October due to a big boy coming after them.
How come everyone is quiet?!
Highest volume for 5 years on 8/11/23, carries great significance for change in equity direction to trend up. Also bullish positive divergence , on the RSI(relative strength index. Bullish pivot breaks upward on RMV, and also in the sector chart. Sp, targets, are 500 and 540. Upper, Bollinger band turned down, 7 days ago, while the lower Bollinger band continued to fall. This is,a bullish event, usually signalling a rally, within 10 days, as evidenced in today's rally .
I’m an estate agent in London, have been for the last 10 years. Whilst we advise on all major portals as a marketing selling point, the lions share of enquiries and leads come from Rightmove. They have such a huge monopoly when people look to search for properties, I rarely use zoopla, on the market or other portals for market updates and checking other stock on the market. They have monopolised the market hence why the charge such a premium. I don’t see them losing out in the on the market situation, they like Google will still remain the number one property portal. However, with such a large company backing on the market we could see a reduction in rightmove overall costs to agents ( here’s hoping! ) to continue to remain at the top. No agent is going to get rid of rightmove in order to try another portal, it’s like people only wanting to be found on yahoo and not Google. It’s an interesting one to watch for sure, I have topped up my position in this today with a 3-5 year view on Rightmove remaining the number one.
The UK public don’t love Roghtmove they just have name recognition. Thats massive of course but don’t mistake it for love of a product.
Homes.com has way more info that Rightmove does to be honest, I can’t honestly believe you would suggest otherwise.
This absolutely isn’t Purple bricks, boomin etc all over again. CoStar are a massive global organisation with Billions in revenue who have a history in residential property in one of the biggest markets in the world doing exactly what they are saying they are going to do over here.
As I have said previously I don’t expect them to topple Rightmove as number 1 any time soon, if ever, but it’s going to take a portion of market share away from them.
The uk public love rightmove and there is no reason for them to change, therefore agents will be unable to change. This is boomin, purple bricks, Zoopla, on the market all over again. Also just checked out homes.com, genuinely thought it was poor compared to rightmove, it was bland at best
Costar aren’t coming to help agents, ultimately they want their money, and ultimately probably more than rightmove charge now in time. When people think about moving in this country, their very next move is rightmove. That will not be easy to change. Also if you are an agent you’ve got to have big balls to drop the uk’s biggest website by a country mile and then go and sit in Someone’s front room and pitch for their business, agents will not be queuing up for that scenario. I genuinely think costar will find this harder than they think. Just my opinion but let’s see.
Agents are crying out for a different option, there just hasn’t been one good enough yet.
CoStar have done this in the States already and changed the game and are already big in the UK in Commercial property so aren’t starting from nowhere, they have been taking on Rightmove commercial for a year or so already.
Honestly do some research into them and their CEO, they are going to attack the market like nobody has seen before. They will outspend Rightmove by miles and they will be innovative.
I am not predicting Armageddon for Rightmove or anything but this will definitely impact their market share over the long term.
That’s fine, but they will have to convince 1000’s of agents that they don’t need rightmove anymore which is not an easy thing to do. Uk agents can’t afford to pay for both large portals, so good luck convincing an agent that they don’t need rightmove to sell houses which has served them well for many many years. They would have to lure a big player like Connels group who who are the UK’s largest ea group by a mile. It’s pie In the sky stuff if you ask me. I’ve been in the property industry for 21 years Rightmove is a lean mean profit making machine. Rightmove has got plenty of scope for more adverting and wouldn’t have to up it by much to maintain market share. Just my opinion. There are always market disrupters, I mean just look at purple bricks and how well they done . . . . Oh hang on
CoStar are absolutely massive and have made a similar move in the US over the last few years with homes.com.
They have the potential to absolutely outspend Rightmove easily and already do in the UK with their existing commercial portal.
Rightmove will be ok because of their name recognition but their market share will take a massive hit now.
A ridiculous market over reaction, seen it all before with Zoopla, boomin, on the market bla bla bla. Rightmove is and will remain king, it’s too intrenched in the property market
Hoover up some more shares on the cheap
Good analysis of the post colonial, post brexit , and indeed post covid over stimulated economy Porsche, and my question is what do you suggest we do to improve our lot? If you don't mind sharing, what are your plans , beyond talking us all into depression ?
Porche gets paid around 5-10p per each negative post
It's public information
He is in bed with tony999 and dogger
All the same. Living a lie and they will die lying and wake up in hell
Quite short sighted in my view
This sad little man spends his day going from board to board talking the companies down. Clearly hiding some resentment for a bad investment or something. We can only hope
For what's it's worth, looks like these are a great buy at 500p.
Well if drops much more another big US firm May take out RMV
How you getting on with those charts stargate? This is the ftse 100 we are talking about, dog index of the world🤡😂
Amazed this had held up for as long as it had, reality and gravity now caught up, brexit basket case U.K. heading for the U bend along with its property market, next two years likely to be brutal.
OTM gets a cash offer paying a hefty premium from a big US property firm and RMV drops 14%.
Talk about overdone.
Price target 632. Both RMV, and sector chart have accomplished bullish pivot breaks, upward.
Message appears: "no healthy upstream".
Can someone else try?
The one year chart reveals a bullish cup and handle formation, which gives a price target of 748.6, if sp, can maintain current price today of 571.60. Sp, requires to stay above price pivot at 568.20, to remain bullish short term. The down trendline from December 2021, is broken, upward, so bullish. The bottom 2 weeks on 26/6/23, taken together amount to a bullish doji, signalling acquisition at that bottom. RSI(relative strength)is above 50, which confirms a bullish trend.
a PE of 25 does seem high. Would expect 15 to 20 tops IMHO
It is insanely overvalued. The plug has already been pulled but seeing as though RMV had first mover advantage and sits is at the top of the sink, it isn't feeling the effects of the water rushing down the drain just yet. But as per every major company that heads towards a crash they 'think' won't affect them because they are too big to fail, at first it happens very slowly and then it happens incredibly rapidly.
Be afraid.