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Rolling coverage of the latest economic and financial news, as Rightmove shares surge 25% after Rea Group considers approachRea Group’s interest in Rightmove could be a sign that the UK property sector is heading for brighter times.Jessica Pok, analyst at Peel Hunt, says falling interest rates could support the housing market (meaning more business for Rightmove):It does not come as a surprise to us today that Rightmove has become an acquisition target, given the rating has been subdued for some time due to the negative sentiment on the UK housing market and concerns over competitive threats from CoStar/OnTheMarket.However, our belief, reflected by the takeover interest, is that the shares look attractive, given the stability of its core classifieds business and the growth opportunities in other revenue streams such as Mortgages, Commercial RE and Rental under the new CEO. On top of that, with declining rates, we believe the UK property market has scope for improvement as we move into 2025. Continue reading…
Rolling coverage of the latest economic and financial news, as Rightmove shares surge 25% after Rea Group considers approach
Rea Group’s interest in Rightmove could be a sign that the UK property sector is heading for brighter times.
Jessica Pok, analyst at Peel Hunt, says falling interest rates could support the housing market (meaning more business for Rightmove):
It does not come as a surprise to us today that Rightmove has become an acquisition target, given the rating has been subdued for some time due to the negative sentiment on the UK housing market and concerns over competitive threats from CoStar/OnTheMarket.
However, our belief, reflected by the takeover interest, is that the shares look attractive, given the stability of its core classifieds business and the growth opportunities in other revenue streams such as Mortgages, Commercial RE and Rental under the new CEO. On top of that, with declining rates, we believe the UK property market has scope for improvement as we move into 2025.
