A new analysis of property sales expenses suggests that landlords who sell now are paying up to 21% more in estate agency fees than they were five years ago.

Open Property Group has analysed the change in average estate agency fees in the UK and its regions between 2019 and 2024 to reveal how the cost of selling a home has changed.

In 2019 the UK’s average house price was £230,612 and the average estate agency fee was 1.53%.  

As such, the cost of agency fees in 2019 was an estimated £3,528.

Fast forward to today and the average UK house price is £280,311 and the average estate agency fee has fallen to 1.42%.

But due to the increase in house prices, the pounds-and-pence cost of the fee has actually risen to £3,980. This is a five-year increase to the seller of 12.8%, or £452.

However, due to vast regional variations in average house price, there are some parts of the UK in which sellers have seen the cost of agency fees increase significantly more.

In the North West, the average house price has increased from £164,419 in 2019 to £214,592 and the average agency fee has increased from £2,516 to £3,047, This is equivalent to a cost increase of 21.1% for sellers.

Hefty cost increases have also occurred in Northern Ireland where fees are up 20% on 2019 levels, followed by Wales (19.4%), Yorkshire & Humber (16.3%), the East Midlands (15.6%), Scotland (14.8%), West Midlands (14.9%), South West (14.4%), and North East (14%).

Meanwhile, London is the only place where the cost of agency fees has fallen, having dropped 0.5% over the five-year period.

A spokesperson for Open Property Group says: “After a couple of stagnant years, it looks like the UK market is going to pick back up in the second half of 2024, which means house prices will rise pulling agency fees up with them.”