REGISTER: Hear how Fulcrum Metals (FMET) is board restructuring to support its strategic focus on Canada. Find out at the focusIR Feb Investor Webinar. Sign up here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

Pin to quick picksRightmove Share News (RMV)

Share Price Information for Rightmove (RMV)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 662.40
Bid: 662.20
Ask: 662.60
Change: -11.40 (-1.69%)
Spread: 0.40 (0.06%)
Open: 673.00
High: 676.20
Low: 660.80
Prev. Close: 673.80
RMV Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Timelines are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TOP NEWS: Rightmove looks to post-cut rally amid August price dip

Mon, 19th Aug 2024 05:47

(Alliance News) - Selling prices dipped in August as would-be buyers put off home-buying plans amid summer holidays, figures on Monday showed.

Rightmove's House Price Index showed the average asking price fell 1.5% to GBP367,785 in August, in-line with the 20-year average during the typically quiet month.

In addition to seasonal slowness, those who did enter the market in August were likely urgent to sell, pricing more competitively and pushing down prices overall, Righmove explained.

Despite the monthly slide, August prices are 0.8% higher than they were a year ago, and with the market's focus on the Bank of England's recent rate cut, Rightmove expects the market is gathering energy for Autumn.

"While mortgage rates aren't yet substantially lower since the rate cut, the fact that the long-hoped-for first cut has finally arrived, and mortgage rates are heading downwards, is positive for home-mover sentiment. As the summer holiday season comes to an end, the conditions are there for a more active autumn market," said Rightmove Director of Property Science Tim Bannister.

As a result, Rightmove now expects new seller prices to rise 1% over the whole of 2024. It previously expected a 1% drop.

While it is an improvement, Rightmove says a few more cuts are needed before home-buyers see a real shift in mortgage rates.

"However, though optimism around the direction of mortgage rates is justified, the reality is that they are still very high compared with a few years ago, and there will be some who need rates to drop further before their affordability is notably improved. Buyers are still stretched, and so sellers mustn't get too carried away by the higher buyer activity levels compared with last year, and continue to come to market with a competitive price."

The average five-year fixed mortgage rate is 4.80%, Rightmove noted, an improvement on the 5.82% average rate at this time last year, though still higher than it was before the BoE upped rates in 2021. It said the best available five year fixed rate is 3.83% with a 40% deposit, the lowest it's been since September 2022.

Looking ahead, Rightmove noted economic uncertainties, but maintained its largely positive outlook.

"We expect small price rises in the autumn, followed by the usual seasonal monthly falls in prices at the end of the year. Though there are still some uncertainties ahead – October's Budget, the timing of a second bank tate cut, and the US economy to name just three - the scene is now set for a positive remainder of the year. The number of sales being agreed between buyers and sellers continues to track very positively at 16% ahead of last year, and the number of new sellers coming to market is now a stable 5% ahead of this time last year."

By Aidan Lane, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
28 Jan 2025 00:01

UK rents outside London fall for first time since pandemic, Rightmove says

LONDON, Jan 28 (Reuters) - Advertised rents in Britain outside London have fallen on a quarterly basis for the first time since 2019 due mostly to a drop in demand from tenants, according to data published on Tuesday by property website Rightmove.

Read more
21 Jan 2025 17:03

LONDON MARKET CLOSE: Stocks firm as Trump takes moderate tariff stance

(Alliance News) - Stocks in London advanced on Tuesday, and the FTSE 100 hit a new all-time high, after Donald Trump took a softer than expected stance on tariffs - at least for now.

Read more
21 Jan 2025 16:41

London close: Stocks higher after softer UK employment data

(Sharecast News) - London stocks closed higher on Tuesday, as investors assessed the latest UK employment data, and watched for developments across the pond on the first full day of Donald Trump's second presidential term.

Read more
21 Jan 2025 12:04

LONDON MARKET MIDDAY: Stocks mixed as Donald Trump sows confusion

(Alliance News) - Stock prices in London were mostly higher at midday on Tuesday with the Bank of England remaining likely to cut rates in February, despite rising earnings.

Read more
21 Jan 2025 09:35

LONDON BROKER RATINGS: Morgan Stanley cuts AB Foods and Sainsbury

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and on Monday:

Read more
16 Jan 2025 15:58

London close: Stocks higher as UK growth misses forecasts

(Sharecast News) - London equities ended Thursday in positive territory, with investors buoyed by weaker-than-expected UK growth data that bolstered expectations of a potential interest rate cut by the Bank of England next month.

Read more
14 Jan 2025 09:37

LONDON BROKER RATINGS: Morgan Stanley raises Informa, cuts Trustpilot

(Alliance News) - The following London-listed shares received analyst recommendations on Tuesday morning and on Monday:

Read more
31 Dec 2024 09:36

Rightmove reports record Boxing Day as new seller activity surges

(Sharecast News) - The number of properties listed for sale on Rightmove hit a record number on Boxing Day, the housing platform revealed on Tuesday, with both new seller activity and website visits both hitting all-time highs.

Read more
12 Dec 2024 05:08

Rightmove predicts busy 2025 for housing market amid BoE rate cuts

(Alliance News) - UK house prices will register an increase next year, property portal Rightmove predicted, with London set for a bumper year of growth too amid a boost from rate cuts.

Read more
10 Dec 2024 10:01

LONDON BROKER RATINGS: RBC raises Hikma; JPMorgan cuts Schroders

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and on Monday:

Read more
5 Dec 2024 09:51

LONDON BROKER RATINGS: JPMorgan ups Deliveroo; Deutsche Bank cuts M&G

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:

Read more
22 Nov 2024 16:55

LONDON MARKET CLOSE: FTSE 100 surges but sterling slides on poor data

(Alliance News) - The FTSE 100 outperformed as European equities ended the week strongly, following weaker economic data that strengthened the case for more interest rate cuts.

Read more
13 Nov 2024 09:33

LONDON BROKER RATINGS: Deutsche Bank raises Ibstock to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:

Read more
8 Nov 2024 08:11

LONDON BRIEFING: Stocks up as BoE sees gradual cuts on horizon

(Alliance News) - The FTSE 100 is opened higher on Friday following rate cuts in the US and UK, with confidence that more will follow despite uncertainty after Trump's election.

Read more
8 Nov 2024 08:11

TOP NEWS: Rightmove confident amid positive house price growth

(Alliance News) - Rightmove PLC on Friday posted an optimistic outlook with revenue set to rise this year despite a moderation in growth of rental prices.

Read more

Make Better Investment Decisions

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.