Rightmove's Profits Report

The Property Estate Agency Portal, Rightmove announced its figures yesterday.

The company said revenue rose 69% to £56.7m in the 12 months to December, boosting pre-tax profit from £7.27m to £27.1m. A staggering amount of money.

The interesting point is that houses are staying on the site slightly longer than previously up to 93 days compared to 78 last year.

Rightmove have a good business model , charging users for the time they stay on the site.