Rightmove says it is confident of keeping on track to deliver its expected results and profits throughout 2016 despite the unexpected Leave victory in the EU referendum.
Nick McKittrick, chief executive officer of the portal - buoyed by record agency subscribers, profits and visits reported yesterday - says: “Whilst the economic outlook is more uncertain due to the result of the EU referendum, the visibility provided by our subscription model coupled with the value provided by our products and the strength of the Rightmove brand and traffic give us confidence in delivering expectations for the current year.”
His is one of a number of corporate ‘sighs of relief’ within the industry that the effects of Brexit have not yet been as drastic as some anticipated.
Connells Group’s chief executive David Livesey says activity for his companies underwent a lull before the referendum. “Brexit has created some short term challenges, but we excel against our competitors in tough market conditions and we are already seeing performance bounce back to pre-Brexit levels" he says.
The chief executive of house builder Taylor Wimpey, Pete Redfern - who is also chairing an all-party investigation into housing supply for the Labour Party - says his firm’s improved first half year profits came from building over 6,000 new homes between January and the end of June.
"One month on from the EU referendum, current trading remains in line with normal seasonal patterns. Customer interest continues to be high, with a good level of visitors both to our developments and to our website. We are monitoring customer confidence closely across a number of metrics, including appointment bookings, and these continue to be solid” he says.
"Whilst it is still too early to assess what the longer term impact from the referendum result on the housing market may be, we are encouraged by the first month's trading and by continued competitive lending from the mortgage providers as well as the positive commentary from government and policymakers.”