Estate Agents fees up 26% in last decade

The average cost of moving house now is £10,996 after an alleged 26 per cent rise in typical estate agency fees over the past decade.

That is the claim of a price comparison website, Compare My Move, which says the average agency fee was £4,279 in 2006; the fee now is said to be £5,404. The site says it obtained this typical agency fee from a separate survey by Lloyds Bank.

During the same period house prices have risen around 24 per cent according to separate calculations by the Nationwide building society.

In terms of other moving costs, the site says stamp duty on a typical property in 2006 was £2,023 but is now £2,504 – a rise over 10 years of some 23 per cent.

The price of a survey has risen from an average £525 then to £665 now (up 26 per cent) while removal costs are up from £952 to £1,111 – a 16 per cent hike.

Conveyancing costs are up from the 2006 figure of £1,011 to the current £1,251 – that’s an increase of 23 per cent.

Finally there is today’s £60 cost for an EPC – which didn’t exist a decade ago.

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Written by: Houseladder