The property website Rightmove had a huge first half of the year. They reported a gain of almost 49 per cent in profits to 24.5 million pounds. The company experienced its best March ever and activity during the summer remained very high.

Rightmove’s chairman Scott Forbes commented on the surge forward, saying: "This gives us grounds for confidence that revenue will continue on an upward path, given our underlying subscription model, and that our plans for 2011 will deliver further growth in the average spend per advertiser."

Unfortunately for Rightmove, property values as of late suggest any recovery that was happening in the industry has stalled. A local bank said the average price of a property in the UK dropped one half per cent between June and July. Also, the Royal Institution of Chartered Surveyors discovered the first fall in prices of homes for a year.

Rightmove showed impressive growth and activity during the first six months of the year. The increase was 22 per cent on its website compared to the same time last year. However, there is growing concern that the fast start to the year will be cancelled out during the second half because purchasing is already getting weaker.

Rightmove said its activity should be able to handle modest decreases in house prices, although it could be at risk if there are sharp sales in homes. Growth of 26 per cent was impressive earlier this year. The number of agents rose by 4 per cent also since the first of the year.

The group also mentioned, the estate agent industry is recovering after the slump in the property market. Several companies which closed their doors are now returning to the offices to reopen.

The new homes market has taken a beating, but is starting to bounce back. Developer membership has fallen by 14 per cent, although it had held steady since January. Rightmove also reports, the smaller developers and housing associates are affected the worst.