Purplebricks markets itself as ‘more affordable’ ...

Purplebricks is marketing itself as a way for homeowners to save money while selling their home amid the cost of living crisis.

In a release likely to frustrate high street agents, the brand claims it is a more “affordable option” as it could cost an average of £6,592 to sell a property through a conventional estate agency.

A spokesperson said the figure is based on an average taken from a "guesstimate" by the 2,000 people surveyed.

However, the brand's own online calculator shows sellers using its fixed fee service of £1,199 would only get that saving on the sale of a £550,000 property, based on an agency fee of 1.2%.

The average UK house price is currently £294,559, according to the Land Registry.

Sellers in the same scenario would actually be offered a lower £3,540 saving, which drops to £2,950 on a 1% agency fee.

That is still a saving but there is also the additional risk that Purplebricks sellers have to pay upfront even if the property doesn’t sell.

It comes as research by the online agent claims the cost of living crisis is having an impact on the property market, with 79% of homeowners saying that their priorities have changed when it comes to selling their home and buying another.

A quarter said they were more likely to list their home and buy another in 2023, with 55% preferring to list their home for sale in the Spring.

Changing priorities for homeowners included 18% spending less on a new property than planned and 6% selecting a new property which is more of a project than they’d normally choose.
Another half said that they were planning to stay put because of the cost of moving.

The analysis then claims that sellers believe it would cost an average of £6,592 to sell their home with a conventional high-street estate agent, at which point Purplebricks highlights its fixed fees.

Tom Greenacre, managing director of Purplebricks, said: “It’s understandable that people are nervous about the cost of selling their home and moving house given the cost of living crisis – but they don’t have to be.

“Buying a new home in a cheaper area or downsizing where children may have left home, for example, might leave you better off. And listing now, or very early in the New Year, could mean that you beat the crowd.”