Estate agents in Northampton earned £14 million in fees in one year

More than 4,000 homes were sold in Northampton last year
More than 4,000 homes were sold in Northampton last year

Estate agents in Northampton collectively pocketed more than £14 million in fees in one year, latest figures show.

In what could be a sign of a burgeoning housing market, HM Revenue and Customs figures reveal that last year £14.8 million was earned on transactions in Northampton.

That was based on 4,051 properties sold in that 12 month period at an average price of £173,736.

Not surprisingly, London tops the estate agent fees chart. The average price of a London property in 2013 was £325,414 and the total number of properties sold during 2013 just under 88,000. The total amount of percentage-based fees paid to London estate agents was almost £600m. That was more than 12 times the total amount of agent fees paid by home sellers in Bristol (£49m).

Alex Gosling, managing director of home buying website Housesimple.co.uk, said he believed websites were attracting more sellers because of their lower fess.

He said: “Clearly not every homeowner will sell online, but the fact is that there is now a genuine alternative to selling through a high street agent.”