Average Estate Agent Fee is 1.3% for 15th Consecutive Month
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.