Rightmove boss Peter Brooks-Johnson has announced plans to step down after more than 16 years with the property firm.

The UK’s largest property website said Mr Brooks-Johnson will remain in the chief executive role until its full-year figures are unveiled in February 2023 and will help with finding a replacement and ensure a smooth handover.

The group said it is now launching the search for his successor.

Mr Brooks-Johnson said: “With Rightmove progressing well on its mission to make home moving easier and our strong trading from 2021 continuing into 2022, I have decided it is an appropriate time to seek a new challenge.”

Given Rightmove's strong market position we are confident we will attract a high-calibre successor

Andrew Fisher, Rightmove chairman

Rightmove chairman Andrew Fisher said: “Peter has made a significant contribution to the success of Rightmove over the past 16 years and whilst we are disappointed that he will be leaving the business, we understand his decision.”

He added: “I look forward to working with Peter to ensure a smooth transition and given Rightmove’s strong market position we are confident we will attract a high-calibre successor.”

Mr Brooks-Johnson joined Rightmove in 2006, before working up the ranks to become chief executive in May 2017.

He was previously a management consultant with Accenture and the Berkeley Partnership.

The group saw profits jump by more than two thirds to £225.6 million as the business said that the number of customers using its upgraded package doubled in 2021.

The business saw revenue per advertiser on the property site leap 9% compared with 2019, before the pandemic struck.