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Shares in Rightmove hit a new record high as company is valued at almost £4.2bn

ONE UTILITY NS

Rightmove shares hit a high this week, of 4,579p, giving the company a market cap of almost £4.2bn.

The price was achieved on Wednesday. Yesterday, the shares closed a whisker down, at 4,567p.

Other property share prices have been stable, despite the announcement on Wednesday afternoon of the Tenant Fees Bill and its likely effect on agents’ income and profits.

Foxtons slipped almost 2% yesterday, to 74.5p, while Countrywide nudged up by under 1% to 110p, and shares in LSL rose over 2%, to 264p.

Shares in The Property Software Group, whose roots are in lettings, did not move at around 140p, and it was a similar story for shares in Belvoir, also still predominantly a lettings business, with a share price unchanged at around 105p.

However, the lettings fee ban – and the Government’s own impact assessment – do not seem to have been reported much outside the trade press.

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Source:: Shares in Rightmove hit a new record high as company is valued at almost £4.2bn