x
By using this website, you agree to our use of cookies to enhance your experience.
award
award award
award award

TODAY'S OTHER NEWS

Vendors spend extraordinary sums each day to sell their homes

Vendors spend an average £41 a day for 144 days when selling their home - but some spend a remarkable £140 a day on average.

GetAgent, which compares costs and service levels of estate agencies, has come up with the figures after analysing market data.

It says with the current average house price in Britain at £238,414, the seller is paying £3,600 in agent fees plus £2,384 in legal fees and other costs such as removals, utility connections and service charges.  

At a total of £5,984, it’s costing the average home seller £41 a day to sell their home.

In London the higher prices of property and service mean the cost climbs to £83 a day. In the South East and the South West, this daily cost to sell also exceeds £50 at £60 and £52 respectively.

The North East is home to the lowest daily cost to sell at £19.

Colby Short, GetAgent chief executive, says: “With a little research you can improve your property sale from a value point of view. Either finding an agent or other supplier with below-average costs will help reduce the price paid. Or, if you value the speed of transaction, you could find an agent with a much better record when it comes to the time taken to sell; although this will often come at a higher cost.”

At local authority level, the daily cost of selling climbs even higher in some areas. 

At £140, the City of London is home to the highest daily cost to sell a property, along with Camden (£125) and Richmond (£112), while Epsom and Ewell is the highest outside of London at £100, followed by Sevenoaks (£99) and Elmbridge (£99)

The best value area to sell currently is Moray or Blackpool, equating to a daily cost of just £13.

Aberdeenshire (£14), Barrow-in-Furness (£15) and East Ayrshire (£15) also present some of the best value areas.

  • icon

    Someone has way too much time on their hands.

  • Where Is The  Monii Money

    I think I may have missed something.

    The fee is calculated as a percentage of the price regardless of how long it's on the market. I can't see any relevance in this "research" at all. In fact, let's give sellers a reason to drive down the fee by telling them that on a daily basis one agent is "cheaper" than another.

    It's got the feel of an inexperienced marketer who got to page 19 of "Online Marketing Hacks" which recommends report writing as useful content generation!

    Anyhow, time to make a brew in my chocolate teapot...

icon

Please login to comment

Zero Deposit Zero Deposit Zero Deposit
sign up