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Average Estate Agent Fee is 1.3% for 15th Consecutive Month
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Average Estate Agent Fee is 1.3% for 15th Consecutive Month
The UK’s largest conveyancing firm, Myhomemove, has revealed that the average estate agent fee in June was 1.3%, for the 15th consecutive month.
When the rate first dropped in April 2014, the average fee would have been £2,925.
Last month, this had increased by £83, due to rising house prices. As inflation is at 0%, this is a net gain.
June’s house price fall was unexpected and now the housing market is continuing its recovery with a 6.4% monthly increase, to £235,992.
From January to June this year, property prices have risen by 2.9% on average and annually by 5.5%.
These prices are based upon completed house prices, not asking prices.
The average fee does not include online and hybrid agent fees.
The average time to receive a mortgage offer has grown by another half day, to 49 days. This is around a week quicker than last year.
