Estate agents across the UK are currently charging an average fee of 1.2% which equates to a fee of £3,846 on the average house price, according to new research.
The highest percentage fees per postcode area was in East Ayrshire in Scotland where agents in the KA15 postcode are charging 2.9% to sell a home. However, on the average house price of £89,729, this equates to £2,646.
The study also shows that at 0.6%, PH7 in Perth and Kinross, IV19 in Highland, PA20 in Argyll and Bute and KA2 in East Ayrshire have the lowest average fee in the UK.
Outside of London, KT11 in Elmbridge the highest fee paid by sellers, with a 1.6% commission equating to £14,921, followed by GU25 in Runnymede at £13,408. While the average commission in Chiltern’s HP9 drops to 1.4%, the average fee paid is still £12,780.
KT24 in East Horsley at £11,811, GU20 in Surrey Heath at £11,290, KT10 in Elmbridge t £11,115 and RG9 in South Oxfordshire at £10,122, also have a double-digit fee to sell a home.
In London, the biggest fees to sell are all located in Kensington and Chelsea and Westminster. SW7 is the highest with the average commission of 1.9% equating to a fee of £36,540 on the average house price in this postcode.
While the average commission increases to 2% in SW3, a slightly lower average house price sees the fee paid come in at £35,343 and W1, W8 and WC2 have an average fee of over £30,000.
The postcode with the lowest fee paid in London is IG11 in Barking and Dagenham at £3,282, while outside of London it’s PA20 in Argyll and Bute at just £567.