Moneysupermarket (MONY), house prices, Rightmove (RMV) and Abrdn European Logistics Income's (ASLI)
The hike in motor and other insurance premiums last year drove growth at comparison site Moneysupermarket (MONY) last year, as people shopped around for cheaper deals. An 11 per cent increase in revenue was fuelled largely by a 28 per cent growth in the company’s insurance business – its largest segment. Strong demand for holidays also meant its travel business grew by a third, but the energy switching market remained moribund and the Quidco consumer cashback business for which the company paid an initial £87mn in late 2021 was flat. Operating profit rose by 9 per cent but a fairly downbeat outlook statement meant the company’s shares dipped by 2 per cent. MF
Read why we’re bullish on Moneysupermarket
House sales and asking prices rising
House sales and asking prices are rising as confidence returns to the housing market, according to data from property website Rightmove (RMV). The number of deals jumped 16 per cent in the first six weeks of this year compared with last year, and the activity was 3 per cent above 2019 levels.
It said this is being driven by increased options and enquiries, with the number of properties coming to the market up 7 per cent on last year and the number of buyers enquiring to estate agents also up 7 per cent. Meanwhile, the annual difference in asking prices is 0.1 per cent, the marginal increase marking the first rise since August 2023.
“There continue to be reasons for cautious optimism as we settle into 2024, with encouraging activity levels and a more stable housing market," said Rightmove director Tim Bannister. ML
Read more: Green shoots of recovery for UK house prices
