|Bid||563.80 x 0|
|Ask||564.20 x 0|
|Day's range||559.60 - 568.46|
|52-week range||373.10 - 710.60|
|Beta (5Y monthly)||0.70|
|PE ratio (TTM)||28.93|
|Earnings date||07 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||30 Apr 2020|
|1y target est||466.31|
The company, which pointed to more signs of a recovery in the housing market, said sales agreed are currently over 10% higher in England than last year, helped by new property listings returning to the market. The London-based company plans to bring all employees back from furlough by July 31, and added that it does not expect to issue commercial paper under the government's coronavirus aid scheme. Rightmove, however, said it was unable to provide any forecast on future profitability.
Estate agents in England have seen a rebound in house sales since the government eased coronavirus lockdown restrictions on May 13, property website Rightmove said on Monday. Rightmove said sales during the lockdown fell by 94%. "There are signs of high pent-up demand and upwards price pressure, rather than downwards," Rightmove director Miles Shipside said.
British biggest property website, Rightmove, said it had its busiest day on record this week, suggesting the housing market is picking up after the government eased its coronavirus lockdown for the sector in England. Rightmove said its site had more than 6 million visits for the first time on May 27, up an annual 18%. "The challenge agents are facing is handling this surge in enquiries, having a process to deliver virtual viewings, and setting up socially distanced and safe physical viewings," Rightmove's commercial director, Miles Shipside, said.
British property website Rightmove said visits to its site rose 45% on Wednesday morning compared with a day earlier after the government moved to reopen the housing market which it had effectively closed as part of the coronavirus lockdown. Email enquiries to agents rose by 70% and new listings also increased with 2,115 new properties added in five hours, Rightmove said.
The number of British people leaving their homes to go shopping has slumped by 83% since the government closed non-essential retail outlets last month to slow the spread of COVID-19, the British Retail Consortium trade body said on Monday. Separately, property website Rightmove said it was unable to provide meaningful house price data due to a collapse in the number of new homes being listed for sale.
Rightmove said it was discounting customers' invoices by 75% for the next four months, leading to a hit of 65 million pounds-75 million pounds to its revenue this year. The impact from the coronavirus comes just as the British housing market, which had been subdued for the past four years due to Brexit-related uncertainty, was beginning to show signs of recovery. "A spike in the number of property transactions falling through has clearly got Rightmove worried and it's taken the decision to sacrifice profits in the short term to help customers keep their heads above water," Hargreaves Lansdown analyst Nicholas Hyett said.
A gauge of how Britons feel about their household finances hit its highest level on record this month, the latest sign of a confidence bounce since Prime Minister Boris Johnson's decisive election win in December. The IHS Markit Household Finance Index jumped to 47.6 in February from 44.6 in January, the highest index reading since the survey began 11 years ago. "Our latest Household Finance report signals a number of developments that should keep the Bank of England doves at bay and build optimism towards the UK's immediate economic prospects," Joe Hayes, an economist at IHS Markit, said.
Asking prices for British houses put on sale have extended a rise which began after Prime Minister Boris Johnson's election victory in December, property website Rightmove said on Monday. Rightmove said average asking prices of property marketed between Jan. 12 and Feb. 8 rose by a monthly 0.8%, slower than a 2.3% jump in the previous Rightmove report but enough to take prices close to their all-time high. "It's the first time for over a year that we have seen any sign of a return of seller confidence, albeit lagging behind the surge in numbers of early-bird buyers," Miles Shipside, Rightmove director, said.
British households grew more confident about their finances and a measure of house prices rose by a record amount for January, according to surveys which added to other signs of a brightening mood in the economy since last month's election. Ten days before the Bank of England decides whether to cut interest rates, the surveys published on Monday suggested that some of the uncertainty that has weighed on the economy has lifted after Prime Minister Boris Johnson's big election win. IHS Markit, a data firm, said its Household Finance Index rose to a one-year high of 44.6 in January from 43.2 in December, chiming with other sentiment surveys from both businesses and consumers that have shown an increase in optimism.
British numbers were dismal last week. On Friday, retail sales declined by 0.6%. The pound is showing signs of weakness, as it has slipped below the symbolic 1.30 level. Is cable headed for further losses?
Asking prices for British houses put on sale in the five weeks to Jan. 11 rose by a record amount for the time of year, property website Rightmove said on Monday, adding to signs of a post-election bounce in consumer and business confidence. Britain's Royal Institution of Chartered Surveyors and major mortgage lender Halifax have both reported stronger-than-expected housing market activity since Prime Minister Boris Johnson's election victory on Dec. 12. Business surveys from Deloitte and IHS Markit have also perked up, as the election result ensures there will be a smooth departure from the European Union on Jan. 31 and no industry renationalisation by the opposition Labour Party.
The number of British people looking to move house jumped sharply in the four days that followed last week's election, during what is normally a quiet time of year for the housing market, property website Rightmove said on Thursday. Rightmove, whose asking price data is used as an early guide to house price trends, said demand from prospective buyers between Dec. 13 and Dec. 16 was 28% higher than over the equivalent period in 2018. "We often see a spike following an election, but it's more surprising this year given the seasonal slowdown," Rightmove's commercial director, Miles Shipside, said.
Asking prices for British houses fell this month by the smallest amount for any December since 2006, a survey showed on Monday, pointing to some upside for a housing market subdued by Brexit and election uncertainty. Rightmove said asking prices, which are not seasonally adjusted, fell by 0.9% on a monthly basis after a bigger-than-normal 1.3% drop in November. The figures follow British Prime Minister Boris Johnson's landslide victory in a national election last week in which he won a majority in parliament that surpassed the expectations of most analysts and investors.
UK's most-viewed home: a footballer's pad or stately house?Rightmove’s annual top-five properties include a Downton Abbey-like castle and a star striker’s Towie pile
Fisher was executive chairman of the Shazam, UK-based app that lets users identify songs by pointing a smart phone at the audio source, when Apple Inc <AAPL.O> reached a deal to buy it in 2017. Fisher, who is also on the board of Rightmove rival Moneysupermarket.com Group <MONY.L>, will join Rightmove in January as Forbes is set to retire from the board at the end of 2019.
Investing.com -- Here is a summary of regulatory releases from the London Stock Exchange on Friday, 22nd November. Please refresh for updates.
Fall in UK house prices as election keeps homes off the market. Number of properties for sale dropped 15% in November – the fastest rate since 2009
The number of properties put up for sale in Britain has fallen by the most in any month in more than 10 years as the combination of Brexit and an election weighs on the market, a survey showed on Monday. There were 14.9% fewer properties put on sale in the four weeks to Nov. 9 than in the same period last year, property website Rightmove said. "I've seen lots of unusual events affecting the property market in my 40-year career, but a Brexit deadline followed by a snap general election six weeks later is obviously a new combination," Miles Shipside, Rightmove director, said.
Investing.com -- Here is a summary of regulatory news releases from the London Stock Exchange on Monday, 11th November. Please refresh for updates.
Asking prices for British houses put on sale in October showed the smallest seasonal increase since the financial crisis, as all but the most determined sellers waited for greater certainty over Brexit, industry figures showed on Monday. Rightmove said that the average asking price for homes sold via its website was 0.6% higher in October than in September, well below the average 1.6% rise seen for the time of year and the smallest increase since October 2008. Average asking prices in October were 0.2% lower than in October 2018, compared with an annual rise of 0.2% in September.
Asking prices for houses in Britain have suffered their first September fall in nine years as worries about Brexit caused buyers to hesitate and sellers to keep properties off the market, property website Rightmove said on Monday. Rightmove director Miles Shipside pointed to uncertainty about Brexit with Britain due to leave the European Union on Oct. 31 and Prime Minister Boris Johnson saying he is prepared for a no-deal Brexit if needed.
Rightmove said the number of properties coming to market was also down by 7.8% this month, compared with the same period a year ago. Photograph: Andrew Matthews/PAHouse prices have fallen in September for the first time since 2010 as Brexit uncertainty continues to cast a long shadow over the UK housing market, according to the estate agent Rightmove.The UK’s biggest property website said the traditional “autumn bounce” in the market was simply not happening this year. Instead, the average price of newly listed homes fell by 0.2%, or £730, compared with August.September is usually the start of an upturn in housing market activity, with price rises recorded every year for the past eight years. However, this year there is growing evidence that sellers are waiting to see how Brexit plays out before deciding whether to move.Rightmove said the number of properties coming to market was down by 7.8% this month compared with the same period a year ago. The number of sales agreed is down 5.5% in all regions.“In August, we reported a pre-Brexit buying spree with the number of sales agreed up by over 6% compared [with] the prior year, as buyers and sellers decided to get deals secured well before the next Brexit deadline,” Miles Shipside, Rightmove director and housing market analyst, said. “But a month later, as the deadline gets closer and tensions heighten, there has been a big swing the other way with sales agreed numbers now over 5% below those of a year ago.”He said the political uncertainty was particularly affecting London, where the number of new properties coming on to the market was 20% down on last year.While Brexit uncertainty is holding the market back now, it has been predicted that prices could crash if the UK departs Europe without a deal. Last Monday, the accountancy firm KPMG warned that UK house prices could fall by as much as 20% if Boris Johnson pursues a no-deal Brexit. The biggest falls would be in London and Northern Ireland, it said.A no-deal exit could trigger a nationwide decline of about 6% in 2020, and a drop of between 10% and 20% was “not out of the question” if the market reacted more strongly than expected, KPMG predicted.
August, normally a quiet month for Britain's property market, has seen a surge in sales, possibly due to buyers seeking to conclude transactions before the country leaves the European Union on Oct. 31, property website Rightmove said on Monday. Rightmove said sales in the August period, which cover the four weeks to Aug. 10, were 6.1% higher than a year earlier and their strongest for the month since 2015, bucking a generally sluggish trend since June 2016's referendum on leaving the European Union. "While the end of October Brexit outcome remains uncertain, more buyers are now going for the certainty of doing a deal, with some having perhaps hesitated earlier in the year," Rightmove director Miles Shipside said.
Asking prices for British homes fell this month for the first time this year as buyers' confidence took a hit from the escalating uncertainty around Brexit, property website Rightmove said on Monday. The average asking price for residential property advertised on Rightmove fell by 0.2% in July after a 0.3% rise in June. Compared with a year ago, prices were down 0.2%, Rightmove said.