Rightmove, the UK's largest property sales website, has shrugged off concerns about the housing market with expectations of a record 2007.

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The company said on Friday that sales rose 69 per cent to ?56.7m last year. It expects to report a profit before tax of ?29.3m to ?32.2m, at the upper end of analyst estimates, in its full-year results on February 29.

Rightmove, which operates a portal on which estate agents and developers pay to place adverts each month, has benefited from a rise in numbers trying to sell property in advance of the downturn.

It has also profited from the difficulties faced by new-build developers trying to sell property, forcing some to ramp up marketing budgets. The number of new home developments on the site was 39 per cent higher in 2007.

"It is undoubtedly a tough market for house sales," said Ed Williams, managing director of Rightmove, who played down fears that sellers could dry up as the market's values slowed.

Mr Williams said more homes were coming to the market and they were staying on for longer before being sold. "Actual transaction volumes were very weak in the last quarter but we have seen a good start to 2008," he said.

Agents have also allocated additional marketing spend to Rightmove in spite of an increase in prices. The company raised prices by 30 per cent to about 7,000 estate agents as well as for new-build developers in 2007.

It reported continued strong sales growth, with about 90 per cent of estate agents and all 20 of the largest new homes developers now subscribing to its website. Shares in the company rose 1p to 429?p.

FT Comment

* The rising number of "For Sale" signs might worry economists but it means business is booming for Rightmove.

The company is to benefit from a more difficult housing sales environment, at least in the short term, as agents and housebuilders battle for what remains of the buyers in the market.

Rightmove predicts that sellers will need to increase advertising budgets, with spend shifting from print to cheaper options on the internet. It estimates that its subscription fee currently represents just 10 per cent of an agent's marketing costs.

A sustained housing slump could trouble its business, however. If builders and agents went out of business or houses stopped coming to the market, its subscription business would inevitably be hit.