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TODAY'S OTHER NEWS

Estate agents' fees up 26% in a decade - claim

The average cost of moving house now is £10,996 after an alleged 26 per cent rise in typical estate agency fees over the past decade.

That is the claim of a price comparison website, Compare My Move, which says the average agency fee was £4,279 in 2006; the fee now is said to be £5,404. The site says it obtained this typical agency fee from a separate survey by Lloyds Bank.

During the same period house prices have risen around 24 per cent according to separate calculations by the Nationwide building society.

In terms of other moving costs, the site says stamp duty on a typical property in 2006 was £2,023 but is now £2,504 - a rise over 10 years of some 23 per cent.

The price of a survey has risen from an average £525 then to £665 now (up 26 per cent) while removal costs are up from £952 to £1,111 - a 16 per cent hike.

Conveyancing costs are up from the 2006 figure of £1,011 to the current £1,251 - that's an increase of 23 per cent.

Finally there is today's £60 cost for an EPC - which didn't exist a decade ago.

  • icon

    What a load of rubbish estate up 26% I wish!!!

    Jon  Tarrey

    Yours, maybe not. Others, probably.

    You can't just ignore the issue because you don't like it. Some people do think that estate agent fees are too high. In fact, I'd say the public at large do. You clearly disagree with that, but there is a conversation to be had about estate agent fees and how much is too much. Closing down the debate with "what a load of rubbish, my agency hasn't seen such rises, this is total tosh!" doesn't really add much to the discussion.

    If fees are rising across the country, that's an issue that can't just be ignored.

     
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    Hear hear

  • Terence Dicks

    I get used to reading garbage on this site, but this just takes the biscuit!! Our "average fee" is less than a third of that. Morons.

    Jon  Tarrey

    Maybe you should read the article. It's one comparison site saying it's the case.

    You're a defensive bunch, you estate agents. Somehow your anecdotal evidence trumps the actual research carried out by this website. You can dispute their findings - and how representative they are - but I would be inclined to believe that estate agency fees have gone up in that time.

    Agents will say they do plenty of work for their money and fully deserve it, others would disagree. That's the way debate works.

     
    Terence Dicks

    Funnily enough Jon, I did read the article, and it is not anecdotal evidence, it is fact. Personally, I do not care what you are inclined to believe, I know our fees have not increased for quite a long time and for you to disbelieve that is indeed your right. That is not debate however, but you choosing to believe what you read without researching further to find out the accuracy of the claims. Debate is discussion from opposite viewpoints, not blindly accepting claims without basis.

     
  • Rob Hailstone

    Conveyancing costs include exactly what?

  • Richard Rawlings

    Once again Lloyds have got it humungously wrong. And as this is a site for Estate Agents Mr Tarry's suggestion that rising fees is "an issue" is totally misplaced. The issue is they are falling - just ask anyone in the business, apart from those who have the skill and good sense to defend their position on fees, which I would hope would be at least 2% . Without question we have the cheapest agency fees in the world (and I know, Mr Tarry - I train agents worldwide). I could go on for hours .....

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    Shock... estate agents fees rise (approximately) in-line with the rise in house prices.
    Is this news ?
    Whether the fee is value for money is another issue.... if you're not getting the service you think you deserve, then come to my agency (damn... that's given the game away again !)

  • Kristjan Byfield

    Surely this has risen in line with property prices? As most of us operate on % fees that wuld make sense- however, with most agents racheting down their % fee and others trying to compete with online with cut fixed price fees it would interesting to see someone like EAT get an article published by major media showing how, despite fees going up, the applicable % has shrunk- showing that buyers sell for more and actually pay less. Wouldnt that be nice?

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