What changed and why
Rightmove and Scout24 both upgraded their outlooks and highlighted artificial intelligence as a driver of new revenue lines. Rightmove has stepped up AI spending, rolling out tools for estate agents that transcribe calls and generate property performance summaries. It also said AI-powered operations enabled it to raise its productivity target for 2027.
Scout24 said it kept pushing AI features that help consumers secure properties and help professionals automate tasks. Those AI products increased consumer subscriptions in the period. Separately, the company reported solid results and lifted its revenue guidance.
Market reaction and operations
On Wednesday, Scout24's stock climbed up to 6.7% at its peak, touching a one-year high following the revenue upgrade and results. Rightmove's Friday update targeted the medium term, with AI monetization described as reinforcing its long run growth case. Bloomberg Intelligence analyst Tom Ward said Scout24 is also benefiting from greater monetization and better efficiency.
Housing backdrop and what to watch
Both firms face weak new-home construction and declining house prices in their core markets. Rightmove pointed to high mortgage and rental prices alongside a soft market for new homes. The Bank of England said UK mortgage approvals fell to 53,443 in September, the lowest since December 2023.
Scout24 pointed to limited project pipelines for property developers and providers of new-builds. Inflation-adjusted home values in Germany fell for the ninth consecutive month in October.
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The bottom line for your portfolio
AI is showing up in higher guidance, stronger subscription trends, and upgraded productivity targets. If housing stays subdued, the platforms leaning into automation and monetization have more ways to keep earnings moving.
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