Revealed: the cities and regions where agents earn the most from sales

first_imgThe Conservatives say they want to ‘level up’ the UK but there’s a long way to go when it comes to the fees that estate agencies earn from property sales, new research reveals.London continues to dominate the UK both in terms of cash earned from property sales with an average of £8,501 but also by percentage, at 1.85%.By region, this is followed by the South East at £5,012 or 1.55%, the East of England at £4,398 or 1.51% and the South West at £4,161 or 1.58%.The research by recruitment firm Rayner Personnel also highlights the huge differences in average fee percentage ranging from 1.2% in Glasgow to 1.8% in the capital.Property salesIts data also shows that estate agencies earn £274.4 million in fees every month, but that England dominates the figures – agencies in Wales in Scotland earn just £26 million of this total.“London is always going to drive the market in terms of volume and estate agent earning potential due to the generally higher fees,” says Josh Rayner, CEO of Rayner Personnel (left).“But it’s important to remember that while these potential earnings differ by region and city, so too does the number of agents battling it out for this business.“The threat of the online and hybrid model hasn’t escalated to the levels previously expected, but they still pose a threat in terms of acquiring transactions across the UK which will also reduce available income.“While we appreciate that not every agent charges the average fee for their services, we wanted to highlight that the UK property market is alive and well despite wider uncertainties and estate agents can still make a very good living.”Full cities listTop 10 Major CitiesAverage House PriceAverage fee (%)Average fee (£)Average Monthly Sales (Last 12 Months)Potential Earnings on OfferLondon£485,7941.8%£8,5016,867£58,374,838Edinburgh£270,1111.3%£3,430953£3,268,327Birmingham£185,4991.6%£2,9121,027£2,990,721Leeds£183,7071.5%£2,737994£2,719,663Bristol£285,2681.5%£4,279540£2,310,315Bournemouth£283,4691.5%£4,110560£2,300,395Sheffield£167,3321.6%£2,644610£1,612,303Glasgow£134,5001.2%£1,587982£1,558,796Cardiff£210,9091.6%£3,290448£1,474,275Manchester£184,5061.4%£2,657481£1,277,738Read more about agent fees.agent commission Josh Rayner Rayner Personnel fees August 5, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Revealed: the cities and regions where agents earn the most from sales previous nextAgencies & PeopleRevealed: the cities and regions where agents earn the most from salesNew data shows how London continues to dominate the UK with an average sales fee of over £8,000 and percentage fees of 1.8%.Nigel Lewis5th August 202002,185 Viewslast_img read more

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These are the areas where listings are up giving buyers the bargaining power

first_img28 Douglass St, Clermont is listed for the reduced price of $230,000. Picture: realestate.com.auTHESE are the suburbs where buyers are in the box seat with plenty of properties on offer putting them in a good negotiating position.New figures from CoreLogic reveal the suburbs where property listings have increased substantially in the past year.Rural suburbs and towns featured heavily in the top five in Queensland with Clermont, south west of Mackay, with the biggest increase in property listings for the year – up 80.3 per cent to 238. ENTIRE TOWN FOR SALE More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus18 hours agoIt was followed by Hughenden where listings increased 76.4 per cent to 97, Cloncurry was up 75.7 per cent to 202, Home Hill 69.1 per cent to 127 and Highfield up 64.4 per cent to 79.The figures are based on properties advertised for sale in the 12 months to May 2017 compared to the 12 months to May 2018. 26 Alyss St, Hughenden is listed for $350,000. Picture: realestate.com.auNationally Katherine in the Northern Territory had the highest increase in properties listed for sale – up 97.8 per cent to 182.Clermont was the second highest in Australia.The report said the Queensland suburbs and towns which dominated the list were mostly those affected by the mining downturn.“Suggesting owners may be more willing to sell as conditions level out or more distressed assets are hitting the market,’’ it said.last_img read more

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