Despite a sluggish time for the London market, the capital still ranks at the top, where the highest fee to sell a home is concerned.
At 1.7%, London is not the city with the highest percentage fee, but with an average property price of £525,893, it also ranks first place in monetary terms at £8,940.
The second-highest cost to sell is found in Cambridge and Oxford, where despite only charging a 1.1% fee, estate agents take home £5,426 and £4,711 respectively due to the higher cost of property.
Bournemouth also sits within the top five, where the average agent earns £3,768 from the average fee of 1.2%, while the same percentage fee in Bristol equates to a cost of £3,690.
Most affordable cities to sell your home
At the opposite end of the table, Glasgow is currently the most affordable city to sell your home. A 1.1% fee charged on the average property price of £162,081 equates to just £1,783.
Bradford (£1,873), Newcastle (£1,957), Nottingham (£2,233) and Liverpool (£2,304) are also placed amongst the most affordable cities to sell in the current market.
Advice for home sellers
Founder and chief executive officer of GetAgent.co.uk, Colby Short, commented: “It’s a great time to be a homeowner, particularly if you’re thinking about selling up, as the likelihood is that the value of your home has climbed considerably over the last year to 18 months.”
Short continued: “Of course, it’s important to remember that this will also increase the fee you’re likely to pay when it comes to selling and this can range anywhere from a few thousand pounds, to nearly ten thousand, depending on where you live and the market value of your home.”
Short advised: “When looking to sell, it’s always important to shop around and see what each agent is charging in fees and then get a good idea of what this will equate to in pounds and pence when you do come to putting your home on the market.”
Location
|
Average agent fee %
|
Average house price
|
Average fee £
|
London
|
1.7%
|
£525,893
|
£8,940
|
Cambridge
|
1.1%
|
£493,297
|
£5,426
|
Oxford
|
1.1%
|
£428,298
|
£4,711
|
Bournemouth
|
1.2%
|
£313,983
|
£3,768
|
Bristol
|
1.2%
|
£307,523
|
£3,690
|
Edinburgh
|
1.0%
|
£314,042
|
£3,140
|
Birmingham
|
1.4%
|
£209,176
|
£2,928
|
Cardiff
|
1.2%
|
£241,321
|
£2,896
|
Leeds
|
1.3%
|
£216,580
|
£2,816
|
Portsmouth
|
1.2%
|
£227,590
|
£2,731
|
Leicester
|
1.3%
|
£206,498
|
£2,684
|
Southampton
|
1.2%
|
£220,826
|
£2,650
|
Manchester
|
1.3%
|
£203,835
|
£2,650
|
Plymouth
|
1.3%
|
£197,944
|
£2,573
|
Sheffield
|
1.2%
|
£192,236
|
£2,307
|
Liverpool
|
1.4%
|
£164,550
|
£2,304
|
Nottingham
|
1.3%
|
£171,762
|
£2,233
|
Newcastle
|
1.1%
|
£177,877
|
£1,957
|
Bradford
|
1.2%
|
£156,076
|
£1,873
|
Glasgow
|
1.1%
|
£162,081
|
£1,783
|
Average fee sourced from GetAgent.co.uk (Nov 2021) and applied to the latest UK House Price Index (Aug 2021)
|
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