Rightmove bets on AI as 66% of consumers plan to use AI more for property search
Commenting on the latest Rightmove’s’ results, James Bull, Technology Industry Senior Analyst, RSM UK said:
“Rightmove’s results demonstrate the conversation has moved on from UK property trends and is now about the fact the market treats Rightmove like a subscription Software as a Service (SaaS) business. This part of the market has been impacted significantly in early 2026, as AI changes how software and subscription models are used, priced and valued. The iShares Expanded Tech-Software ETF is down around 22% year to date, which shows the risks of being exposed to AI driven disruption.
“Rightmove may be better placed compared with many pure software businesses because it benefits from around 85% market share, and owns UK property data accumulated over 20 years, which AI platforms need but cannot generate themselves. It also benefits from strong network effects, and reported the second highest estate agency retention in 10 years.
“However, the real challenge for Rightmove, and other platforms, is where property search begins as AI assistants become the new front door. Rightmove estimates that currently less than 0.5% of its traffic comes from ChatGPT, and a recent Bloomberg property search survey shows that portals currently remain the most popular destination to search for property, however, 66% expected to increase use of AI for property searches over the next two years.
“Rightmove is responding by investing in AI features and technology, including the development of the recently launched Chat GPT app integration and Gemini search, and now has 31 live AI initiatives across the business. However, Rightmove has made clear this will come at the expense of short-term profit margin dilution.
“Looking ahead, the test for Rightmove, and other similar platform models, will be whether the AI features introduced are able to generate an increase in average customer spend. This will be the deciding factor of whether the current margin dilution is temporary, or becomes a structural feature to stay ahead of AI native newcomers.”