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    RMV   GB00BGDT3G23

RIGHTMOVE PLC

(RMV)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 06/18 05:04:03 am
659.9 GBX   +0.50%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Dash for bigger homes pushes up September asking prices, Rightmove says

09/21/2020 | 02:39am EDT
Rows of houses are seen in High Wycombe

Surging activity in Britain's housing market nudged up asking prices for homes in September, as buyers sought larger properties following the coronavirus lockdown, a survey showed on Monday.

Property website Rightmove estimated there were almost 40% more sales moving through the pipeline than a year ago, chiming with other surveys that show a post-lockdown surge in the market, helped by a temporary cut in property tax.

Rightmove said asking prices rose 0.2% in September, reversing August's decline. The national average asking price now stands at 319,996 pounds ($415,642), up 5.0% on a year ago.

Official data based on prices paid at the end of the purchase process showed a 3.4% rise for the year to June.

Prices hit a record high for homes with three or four bedrooms, the survey showed.

"Needing more space has always been the most popular reason for moving house, but now there's a new urgency for extra space to be able to work from home," said Tim Bannister, Rightmove's director of property data.

"Buyers (are) competing for the same type of property. At the start of the year a fourth bedroom was very much a luxury for buyers trading up, but it's now emerging as a must-have for those who are able to take that step."

But with unemployment set to rise sharply later this year with the closure of the government's furlough scheme, and the end of a tax break on property purchases in April 2021, the outlook for the housing market next year looks tougher.

(Reporting by Andy Bruce, editing by David Milliken)


© Reuters 2020
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Financials
Sales 2021 298 M 413 M 413 M
Net income 2021 173 M 240 M 240 M
Net cash 2021 81,7 M 113 M 113 M
P/E ratio 2021 32,6x
Yield 2021 1,14%
Capitalization 5 629 M 7 844 M 7 809 M
EV / Sales 2021 18,6x
EV / Sales 2022 17,2x
Nbr of Employees 560
Free-Float 97,8%
Chart RIGHTMOVE PLC
Duration : Period :
Rightmove plc Technical Analysis Chart | RMV | GB00BGDT3G23 | MarketScreener
Technical analysis trends RIGHTMOVE PLC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 19
Average target price 574,17 GBX
Last Close Price 656,60 GBX
Spread / Highest target 13,5%
Spread / Average Target -12,6%
Spread / Lowest Target -48,2%
EPS Revisions
Managers and Directors
NameTitle
Peter Brooks-Johnson Chief Executive Officer & Executive Director
Alison Dolan Chief Financial Officer & Director
Andrew Fisher Chairman
Jacqueline de Rojas Senior Independent Non-Executive Director
Andrew Robert Findlay Independent Non-Executive Director
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