Rightmove forecasts strong housing market after 2021 profit surge

– British real-estate portal Rightmove said on Friday it expects transaction levels to return to pre-pandemic levels this year, dispelling concerns about a slowdown driven by rising inflation and a higher cost of living.

The FTSE-100 firm, which runs the country’s largest property website, said operating profit for the year ended Dec. 31 was 226.1 million pounds ($303.25 million), compared with 135.1 million pounds a year earlier.

($1 = 0.7456 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Devika Syamnath)