Research from online estate agent HouseSimple.com concluded that agents in the capital pocketed £1.1bn in fees in 2015 – a total its chief executive Alex Gosling called “daylight robbery”.
London estate agents have been blasted for charging £10,000 in fees for every property sale last year.
Research from online estate agent HouseSimple.com concluded that agents in the capital pocketed £1.1bn in fees in 2015 – a total its chief executive Alex Gosling called “daylight robbery”.
Gosling said: “Over the past two years, London’s high street estate agents have benefited from record high property prices, and banked more than £2bn in fees.
“That is a staggering level of fees in a market where there is strong demand and limited supply, which means good properties are practically selling themselves.
“How London agents can continue to charge, and justify, such high commission rates when there are buyers galore desperate to purchase, is beyond comprehension. It’s daylight robbery.”
The fees raked in by estate agents increased by 19% in Harrow and 16% in Barking and Dagenham.
However they fell by 20% in Kensington & Chelsea and 14% in Tower Hamlets.
