English English

Estate agent stock and fees hits record high – claim

582,537 properties for sale and SSTC

Estate agents across the UK currently have more than 582,000 properties in their pipeline for sale and SSTC – worth an estimated value of £143bn, according to new research from WiggyWam.


Taking the UK as a whole, the all-in-one property platform claims that the average estate agency branch is currently waiting on £105,000 worth of fees, which may come as a surprise to some firms.

It may also surprise some agents that the study, headed up by CEO Silas J. Lees, adds that the average UK commission is 1.5%.

Lees said: "I'm astounded by these figures which are far higher than anyone could have expected. It highlights the immediate need for systemic change in the industry; particularly the need to build a bridge between the agency and legal sides of homebuying to help clear this backlog. For agents in particular, this is proof that complacency is now your worst enemy. There is just too much to lose.

"Our mission at WiggyWam has always been to remove the barriers preventing people from moving home. Working alongside agents and the legal profession to streamline the legal process means we can guarantee deals exchange in less than half the time they currently take."


Breakdown of Key Stats

+ Total Number of Properties in UK Estate Agent Pipeline Stock (for sale and SSTC): 582,537

+ Total Value of UK Estate Agent Pipeline Stock – £142,979,628,891

+ Total Value of UK Estate Agent Pipeline Fees – £2,158,992,396

+ Value of UK Estate Agent Pipeline Fees per Branch – £104,633


Top 10 UK Cities by Total Estate Agent Pipeline Stock (number of properties)

  • London – 92,776
  • Birmingham – 8,814
  • Bristol – 7,359
  • Manchester – 7,219
  • Liverpool – 6,846
  • Nottingham – 6,498
  • Glasgow – 5,688
  • Leeds – 4,844
  • Sheffield – 4,438
  • Leicester – 3,475


Top 10 UK Cities by total value of Estate Agent Pipeline Stock

  • London – £45,546,826,030
  • Bristol – £2,238,674,314
  • Birmingham – £1,700,119,941
  • Manchester – £1,382,378,356
  • Nottingham – £1,035,214,766
  • Liverpool – £1,026,472,699
  • Leeds – £964,602,328
  • Bournemouth – £918,410,626
  • Glasgow – £834,785,328
  • Edinburgh – £831,378,117


Top 10 UK Cities by Estate Agent Pipeline Fees

  • London – £687,757,073
  • Bristol – £33,803,982
  • Birmingham – £25,671,811
  • Manchester – £20,873,913
  • Nottingham – £15,631,743
  • Liverpool – £15,499,738
  • Leeds- £14,565,495
  • Bournemouth – £13,868,000
  • Glasgow – £12,605,258
  • Edinburgh – £12,553,810

Estate Agent's interested in finding out more about our 'Conveyancing Concierge' service are invited to Attend Our Exclusive Webinar.

...

Estate agencies in the UK have almost 600,000 properties in the pipeline | Mortgage Introducer

Estate agents in the UK currently have more than 582,000 properties in their pipeline, according to property platform WiggyWam.
...

Property agent pipeline of transactions and costs hits document top | Land Registry UK

New research shows that UK estate agents currently have more than 582,000 properties in their pipeline, worth an estimated value of £143bn.
...

Ground News - Estate agent stock and fees hits record high

Taking the UK as a whole, it is claimed that the average estate agency branch is currently waiting on £105,000 worth of fees.
Who owns that property?
Why your business should hire at least one unicorn...

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Tuesday, 28 September 2021
If you'd like to register, please fill in the username, password and name fields.

By accepting you will be accessing a service provided by a third-party external to https://www.wiggywam.co.uk/

Random Posts

31 October 2020
General
Are you curious about your competitors? The fees they charge? How much they ACTUALLY pay to the big 3 portals?  STOP listening to gossip and hearsay!!             &n...
07 April 2021
General
In the press
A surveyors group has launched a new 'Home Review' service which it claims will identify structural problems which create an immediate obstacle to sale. The Residential Property Surveyors Association ...
24 November 2020
UK Government News
bjonesphotography/Shutterstock.com Stockton-on-Tees Borough Council is proud to be the first local authority from the North East of England to be part of HM Land Registry’s Local Land Charges Register...

Top Articles

29 March 2020
Experts Corner
Einstein once famously said, "The definition of insanity is to keep doing the same thing, over and over again, expecting a different result". Less infamous, yet still a quote by Einstein is; "The diff...
29 March 2020
Experts Corner
This guide has been compiled from years of experience in various sectors of the property industry, from estate and letting agency, surveying, property investing as well as training and mentoring many ...
16 December 2019
Latest platform updates, features, tips, tricks and tutorials to help you get the most out of WiggyWam
There are a number of providers offering virtual tours/3D modelling but the one that stands out for us is Matterport. They have been around for a while now and just get better. Mat...
No Internet Connection
0
Shares