Rightmove plc shares slumped more than 15% in early London trading after the UK’s largest online property portal announced plans to step up investment in artificial intelligence (AI) and rebuild its digital infrastructure — moves that investors fear could weigh on near-term profits.
In its latest trading update, Rightmove forecast underlying operating profit growth of just 3–5% in 2026, down from 4–9% expected across 2024 and 2025. The slowdown disappointed markets, even as the company said it continues to generate “strong business value” from its platform.
The company plans to rebuild its app, enhance AI-powered search functions, and integrate AI interfaces into its backend systems to improve “efficiency, speed, and value” for customers and partners.
Rightmove said the investment drive would lay the groundwork for stronger long-term profit growth, despite the short-term margin pressure.
Chief executive Johan Svanstrom said AI was now “absolutely central” to the company’s future strategy:
“We are already working on a wide range of exciting AI-enabled innovations for the benefit of our partners and consumers, and see vast potential utilising our leading reach and connected data.
We are investing to accelerate our capabilities, which we are confident will create an even stronger platform and higher-growth business over time.”
Rightmove added that the enhanced AI capabilities are designed to deepen user engagement and strengthen its leadership position in the UK property market, though the immediate reaction from shareholders was decidedly cautious.
