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TODAY'S OTHER NEWS

Upmarket agent increases prime market share 

Fine & Country claims it has overtaken the established prime agency brands in recent months when it comes to listings.

The premium agency brand has revealed, based on TwentyCi data, that it has grown market share among most prime price points while rival and more established brands in the top 10 have seen a drop.

Simon Leadbetter, global chief executive of Fine & Country said the brand has moved from ninth position for the year ending May 2021 in the £500,000 plus market to fifth in the year ending May 2022.
 

Its share of the £750,000 plus prime property instructions has also grown by 20%, Leadbetter added.

He said: “A 20% growth in market share in any market segment is significant, especially when listings are not easy to come by, and other agencies have seen a decline in instructions.

“The leading two estate agency brands within the prime sector of the market have seen their share of listings fall by 10% and 24%, respectively, during the same period.”

Of the top 10 estate agencies listing properties priced at £1 million and above, Fine & Country is the only brand that has seen market share growth last year, Leadbetter said.

He added: “While overall, the top 10 estate agents' market share of £1m-plus listings fell by an average of 16%, Fine & Country has grown its share of listings by 29%.”

Fine & Country said its market share for £2m plus listings was up 50% compared with a 14% decline among the top 10, while its share of the £3m plus market rose by 77% against an average 8% decline.

Leadbetter said: “These figures tell me that the Fine & Country brand is very firmly in the top echelon of the top 10 premium estate agency brands in the UK.”
He attributed the growth in market share to customer recommendations, the dedication of agents and brand awareness.

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