Could Rightmove make the wrong move?

Banks have been cutting fixed mortgage rates, leading to hopes among some people that the housing market – which has been pretty flat so far this year – will soon respond positively. While prices and sale volumes haven’t been going anywhere, last month the Royal Institution of Chartered Surveyors reported that enquiries from buyers have risen to their highest level in two years.

But do short sellers tell a different story? Property website Rightmove, according to a list maintained by the Financial Conduct Authority, is currently the fifth most-shorted stock on the FTSE all-share index, behind online grocer Ocado, retailers Kingfisher and Sainsbury’s and clothing-maker Burberry. There are four funds with a short position on Rightmove, owning around 3 per cent of the company’s shares. Housebuilder Barratt is also on the list of shares currently being shorted.