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TODAY'S OTHER NEWS

Online agency claims traditional London agents make £1.1 billion

An online agency claims that for the second year running London’s traditional estate agents have charged well over £1 billion in fees. 

HouseSimple says London agents charged over £1.1 billion in fees in 2015 - a similar total to 2014. 

The agency’s borough-by-borough breakdown reveals that high street agents in Wandsworth and the Royal Borough of Kensington and Chelsea made more than £127m in 2015.

It says agents in London’s more affordable areas such as Barking and Dagenham, and Lewisham have also seen large percentage increases in fees earned in 2015 compared to 2014 – up 16 per cent and 12 per cent respectively.

But traditional agents in many boroughs, including Hammersmith & Fulham, Islington, Camden and Westminster, saw a decline in fees.

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