Britain’s largest property portal, Rightmove, is facing a £1.5 billion ($2 billion) lawsuit in the UK’s Competition Appeal Tribunal, as hundreds of estate agents accuse the company of abusing its
dominant market position.
The claim alleges that Rightmove has imposed excessive subscription fees on estate agents and property developers, taking advantage of its status as the country’s leading online property marketplace. The legal action is being led by Jeremy Newman, a former panel member of the UK’s Competition and Markets Authority.
News of the lawsuit rattled investors, sending Rightmove shares down nearly 9% on Wednesday.
The case was first revealed in November, when potential damages were estimated at around £1 billion. Since then, the scope of the claim has expanded significantly, reflecting growing support from across the property sector. According to the claimants, more than 250 estate agencies across the UK have already expressed interest in joining the action.
Newman said the response from the industry has been “extremely encouraging,” suggesting widespread frustration with the costs associated with listing properties on the platform.
Rightmove has firmly rejected the allegations, describing them as without merit. The company said it remains confident in the value it provides to both agents and consumers through its digital platform and services, and confirmed it will vigorously defend itself.
The lawsuit comes at a challenging time for the UK housing market. Estate agents are already grappling with weaker demand and declining transaction volumes, pressures that have been exacerbated by global economic uncertainty and geopolitical tensions, including the ongoing Middle East conflict. These factors have contributed to higher borrowing costs and the likelihood of interest rates remaining elevated for longer.
The legal claim is being financed by Innsworth Capital, with legal representation provided by Scott+Scott UK LLP.
About Rightmove
Rightmove is the UK’s largest online real estate platform, founded in 2000 and listed on the London Stock Exchange (ticker: RMV.L). It connects estate agents, developers, and homebuyers by allowing property listings to be advertised to millions of users each month.
The company operates a subscription-based business model, where agents pay to list properties and gain visibility. Thanks to its dominant traffic share in the UK property search market, Rightmove has long been considered a critical advertising channel for estate agents—though this same dominance has also drawn scrutiny over pricing power.
Over the years, Rightmove has built a highly profitable digital marketplace with strong margins, benefiting from network effects: the more listings it hosts, the more consumers it attracts—and vice versa. This position has made it a cornerstone of the UK housing ecosystem, but also a target for competition-related legal challenges like the current case.