Rightmove, Scout24 Seek AI Boost Against Subdued Housing Markets

Property platforms Rightmove Plc and Scout24 SE both raised their outlooks, saying artificial intelligence-powered products are helping them unlock new revenue streams and steer through subdued housing markets.

Rightmove upgraded its guidance for 2026 earnings per share to at least 7% growth on Friday, from its previous guidance of 5%. The UK property platform has ramped up AI investment, launching tools for estate agents to transcribe calls and obtain property performance summaries. It said AI-powered operations helped it boost its productivity target for 2027.

Scout24’s shares jumped as much as 6.7% on Wednesday, their highest level in a year, after the German online property platform posted solid results and upgraded its revenue guidance. It continued to advance AI-powered products designed to help consumers secure properties and professionals automate tasks, which boosted consumer subscriptions in the period.

AI monetization reinforces Rightmove’s long-term growth case, with Scout24 also benefiting from increased monetization and improved efficiency, Bloomberg Intelligence analyst Tom Ward said.

Both companies are operating in markets with subdued new-home construction and falling house prices.

Rightmove cited high mortgage and rental prices, combined with a soft market for new homes. UK mortgage approvals dropped to 53,443 in September, their lowest since December 2023, the Bank of England said last month.

Scout24 cited low project activity among property developers and new-build providers. Real house prices in Germany fell for a ninth consecutive month in October.