The rental market is now “less imbalanced” according to a Rightmove presentation to its investors.
It says that in the first six months of 2026 there were nine enquiries per available property.
That contrasts sharply with 22 back in 2022, 20 in 2023, 14 in 2024 and 10 in 2025.
In an assessment of its own performance, Rightmove reported higher revenue from agency customers after achieving its highest first-half agency retention rate in more than a decade.
Agency membership increased by 1% during the first half of the year, with agency revenue up 9% as more upgraded to higher-tier packages.
The portal also says that its AI-enabled online valuation tool helped generate around 50% more unique valuation leads, while its new “Ask Rightmove” voice search feature increased consumer engagement and improved lead conversion.
Despite the gains in agency business, Rightmove lowered its full-year revenue growth forecast after continued weakness in the new homes sector.
The number of new-build developments on its site fell by 6% compared with a year ago, prompting it to revise expected group revenue growth for 2026 to between 6% and 8%, down from previous guidance of 8% to 10%.
Johan Svanstrom, chief executive officer, has told shareholders: “Our platform continues to deliver increased value to partners and consumers. H1 2026 has seen strong business and product results: we delivered our highest H1 retention in more than a decade, agency membership grew 1% and our investment in agentic-powered solutions is showing results and coming on the back of strong foundations laid over the last few years.
“With vertical specialisation and trusted quality solutions at our core, we saw Online Agent Valuation support a c.50% total increase in unique valuation leads for partners. For consumers, early indications from our ‘Ask Rightmove’ conversational search rollout suggest a c.40% uplift in average time on site, with close to double the propensity to send leads. We are on an exciting trajectory for the agentic-powered property marketplace, with true personalisation and new efficiency solutions.
“Despite the current volume headwinds in New Homes, our continued momentum gives me confidence in 2026 and beyond. We continue to execute our strategy to build the leading digital ecosystem for the entire home-moving experience, powered by exceptional data and network effects.”
