Agents’ fees on the rise but stamp duty holiday cuts moving costs
Consumer group Which? says the stamp duty holiday has cut more than £4,000 from the average cost of moving home – but it claims other charges, including agents’ fees, are on the rise.
Which? says that while overall moving costs have dropped by 39 per cent the charges from agents, conveyancers, surveyors and removers are all on the up.
Using data from the Reallymoving comparison website, based on 239,000 movers, Which? says the average cost of moving has dropped from £10,911 to £6,699.
This is despite a 15 per cent rise in conveyancing fees, 14 per cent increase in agents’ commission, a 10 per cent spike in the cost of a survey, and a three per cent rise for removal firms.
In absolute terms, it says estate agent fees are now an average of £3,936 which legal fees are £1,682. A house survey is £450 and the removal firm costs £546.
With an Energy Performance Certificate charge of £55, the total cost of moving comes to £6,669.
Reallymoving chief executive Rob Houghton says:
“There’s little let up for First Time Buyers, who are facing increased house prices and greater moving costs than a few months ago, making it even harder to save enough for a deposit and to cover the up-front costs of buying a home.”
“In an unpredictable market it’s more important than ever to compare ratings and customer reviews when searching for home move services, as well as price, to ensure that when you do decide to buy, your transaction progresses as smoothly as possible.”
Kindly shared by Estate Agent Today
Main article photo courtesy of Pixabay