What's happened
A class-action lawsuit led by Jeremy Newman claims Rightmove overcharged estate agents, with damages estimated at around £1 billion. The case, set for the Competition Appeal Tribunal, alleges the firm exploited its market dominance to impose unfair fees, prompting scrutiny and investor concern.
What's behind the headline?
The case underscores ongoing tensions in digital market dominance and fair pricing. Rightmove's market power allows it to set high subscription fees, which critics argue stifle competition and harm smaller agents. The lawsuit aims to rebalance this relationship and recover alleged overpayments. This legal move could reshape online property market dynamics, especially if damages are awarded. The timing coincides with broader economic pressures and increased investment in AI, which may influence the company's future strategies. The case also highlights the risks of monopolistic practices in digital markets, potentially prompting regulatory review and industry reforms.
What the papers say
The Independent reports that the claim could total around £1 billion, led by Jeremy Newman, a former CMA panel member, and funded by Innsworth Capital. The article notes that thousands of estate agents may be represented unless they opt out, and criticizes Rightmove for allegedly exploiting its dominance. Reuters emphasizes the market impact, with Rightmove's shares falling after the notice of the claim, and highlights the company's recent profit and market share. Both sources detail the background of the case, the accusations of unfair pricing, and the potential implications for the property portal industry, with The Independent providing additional context on past petitions and scrutiny.
How we got here
The legal challenge arises amid ongoing concerns over Rightmove's pricing practices. Previously, petitions and scrutiny have accused the company of squeezing small and independent estate agents with higher fees than larger chains. The case is led by Jeremy Newman, a former CMA panel member, and is funded by Innsworth Capital. Rightmove dominates the UK property portal market, accounting for around 80% of buyer activity, and reported a pre-tax profit of £146.5 million in the first half of 2025.
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Rightmove plc is a UK-based company that runs rightmove.co.uk, the UK's largest online real estate portal and property website. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
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The Competition and Markets Authority is a non-ministerial government department in the United Kingdom, responsible for strengthening business competition and preventing and reducing anti-competitive activities.