Property portal Rightmove has been accused of charging unfair and excessive prices to several thousand UK estate agents, with damages in an imminent claim estimated to total around £1 billion.
The claim will be brought by way of opt-out collective proceedings in the Competition Appeal Tribunal led by former Competition and Markets Authority (CMA) panel member Jeremy Newman. The case centres on allegations that Rightmove abused its dominant position in the online property portal market by charging excessive and unfair prices to estate agents to list properties on its online portal. According to its 2024 accounts, Rightmove’s profit margin is around 70%, making it the most profitable company in the FTSE 100. Damages from Rightmove’s alleged excessive and unfair pricing are estimated to total around £1 billion.
Oscar Schonfeld acts for the proposed class representative, instructed by Scott + Scott.