In the third quarter of 2009, fees charged by estate agents and surveyors were more than 2 percent down on one year previously. This is due to declining sales of residential property, fewer assignments on the property market and fierce competition.
Fees charged by estate agents and surveyors
Fees property purchasing services provided by estate agents
In the first half of this year, the number of houses sold on the property market plummeted by more than 35.4 percent. The decline continued in the third quarter, when 31.4 percent fewer houses sold than one year previously. As a result of developments on the housing market, estate agents charged potential purchasers lower fees. Clients paid 4.5 percent less for property purchasing services. Buyers of non-residential property paid 2.9 percent less than one year ago.
Rates of property selling services did not drop so steeply, i.e. 1.3 percent. The rates for selling residential property did not change.
Fees charged for home valuation services provided by estate agents
Fees charged for valuation of non-residential property considerably lower
Surveyors’ fees were 4.6 percent lower in the third quarter than twelve months ago. Companies paid 7.1 percent less. Clients paid 3 percent less for home valuation services. The downward trend is partly caused by a reduction in the number of assignments for estate agents and surveyors and the fierce competition on the property market.
Valuation fees owner-occupied houses and non-residential property