Traditional estate agent fees in Glasgow and Leicester are the lowest in the country, averaging just 0.84% of the final house sale price, according to new research.
Agents in the cities charge, on average, 0.26% less than the national average (1.10%). According to data from estate agent comparison experts NetAnAgent.com. Edinburgh has the second lowest fees at 0.89%, followed by Hull 0.91% in third place.
While London, unsurprisingly, has the highest traditional estate agent fees in the country at 1.7%, followed by Sunderland on 1.33% and Manchester in third 1.31%.
A full list of the highest and lowest estate agent fees in the UK are below, with the number in brackets equating to the average amount it will cost the home seller – based on average house prices in the area.
Lowest traditional estate agent fees in the UK
1) Glasgow & Leicester 0.84% (£1,042) & (£1,577)
2) Edinburgh – 0.89% (£2,127)
3) Hull – 0.91% (£1,086)
4) Bradford – 0.94% (£1,555)
5) Liverpool & Bristol – 0.95% (£1,424) & (£2,852)
Highest traditional estate agent fees in the UK
1) London – 1.70% (£10,877)
2) Sunderland – 1.33% (£1,885)
3) Manchester – 1.31% (£2,5,95)
4) Birmingham – 1.25% (£2,568)
5) Leeds – 1.18% (£2,444)
Stats also reveal that, overall, traditional estate agent fees have fallen across the UK property landscape since 2016. Leicester saw the biggest reduction in fees going from 1.41% in 2016 to 0.89% in 2018, a drop of over 40%. One exception is specialist agents selling properties in high-value areas like N1 in London which has seen a hike of 45% (from 1.5% in 2016 to 2.18% in 2018)
NetAnAgent.com CEO, Alex Thorpe, commented:
“It’s no surprise that, over the last few years, traditional agents have increasingly brought fees down to compete with online and hybrid agents. However, we have seen that high street agents have continued to evolve their service to justify the extra fees with more focus on service along with an emphasis on helping to manage the entire process from marketing to completion. We provide a level playing field for both traditional and online agents, so sellers can find the best option for them.”
Research also shows online estate agents fees have increased 37% over the last two years.
