UK’s Rightmove raises annual average ad revenue growth forecast

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(Reuters) – UK’s largest property portal Rightmove raised its annual average advertising revenue growth forecast on Friday, as easing mortgage costs against an encouraging economic backdrop boosted activity in the residential segment.

The company, which charges estate agents and homebuilders a fee to list their properties on its website, said it expects an average revenue per advertiser (ARPA) growth of between 85 pounds ($110.23) and 95 pounds, above its previous forecast of 75-85 pounds.

($1 = 0.7711 pounds)