x
By using this website, you agree to our use of cookies to enhance your experience.
Graham Awards

TODAY'S OTHER NEWS

Invested in Rightmove? Then you’re in the money…

Rightmove has seen one of the best returns on investment of any company in the FTSE indices according to an investment and online trading company.

IG has analysed quoted companies and has drawn up a league table based on a notional investment of £1,000 made in the year 2010.

What would that be worth now? Of all the quoted companies, Rightmove is the fourth highest. £1,000 invested 10 years ago would give you £16,587 now. 

Advertisement

Rightmove was founded in 2000 as a joint venture between four of the UK’s biggest agencies, who sold their stakes relatively early on.

Rightmove floated on the London Stock Exchange on March 15 2006 and since then has seen a broadly-uninterrupted share price rise.

Invested in Rightmove? Then you’re in the money…

Separately the UBS bank is no longer advising investor clients to sell Rightmove; instead, in a note to investors yesterday, the bank says the portal “could perform well during the current period of macro uncertainty”. 

Yesterday we carried an analysis by Mike DelPrete, an international analyst of agencies and portals, suggesting that in his opinion Rightmove was unbeatable in the current PropTech landscape, with no challenger likely to dislodge it from its number one position.

  • icon

    An investor may get back less than the amount invested. Information on past performance, where given, is not necessarily a guide to future performance."The capital value of units in the fund can fluctuate and the price of units can go down as well as up and is not guaranteed."

  • Andrew Stanton CEO Proptech-PR    Proptech Real Estate Influencer

    Given that Mike DelPrete has been a long term advocate of the online model, especially Purplebricks, who currently trade at 73p a share, down from 95.5p their opening share price 5 years ago, it might be the case that anything Mr DelPrete praises might be in for a sudden day of reckoning.

    Especially as the agents are starting to work out that Rightmove is corrosive to their branding, and does not produce vendors or landlords, social media another budget does. Let us see in 12 months where Rightmove is in the mix of things with many other more agile and less legacy driven portals get more traction.

icon

Please login to comment

MovePal MovePal MovePal
sign up