Legal case to cost Rightmove £2.3m this year
Summary
Rightmove says it expects to incur £2.3 million in legal and professional costs this year following the launch of a proposed class action alleging it charged excessive and unfair fees to estate agents. The Competition Appeal Tribunal has set a hearing for 2 and 3 November, and Rightmove says it will defend the claim vigorously.
Why it matters
The case concerns portal fees paid by estate agents, which can affect agency operating costs and, indirectly, the wider residential sales and lettings market. Surveyors involved in valuation, agency, or market analysis should note the potential implications for market transparency, transaction costs, and portal competition.
Key points
- Rightmove expects £2.3m in legal and professional fees linked to the claim.
- The claim alleges abuse of a dominant position in the online property portal market.
- A Competition Appeal Tribunal hearing is scheduled for 2-3 November.
- Rightmove says the claim is without merit and will be defended vigorously.
- The issue is relevant to estate agency costs and market structure.
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