The number of estate agents and agencies has climbed over the past year despite cooling housing market conditions, the latest research from GetAgent.co.uk has revealed.
According to Rightmove, there has been a 46% increase in the number of sellers entering the market.
In response to this news, GetAgent.co.uk analysed the number of estate agents in the market and how this number has changed; as seller numbers have increased, the number of estate agents has increased by 1.9% on the year.
This came at a time when the overall number of businesses operating across all business sectors fell by 1.5% in the past year, to just above 2.7 million.
There are currently 24,965 operational agents compared with 24,500 in 2022.
The largest regional increase of estate agencies was in the East of England, where a 3.5% boost put the total number at 2,515.
A 2.7% increase in the North East made for an increase to 580 local agencies, and in London there were 7,325 operators after an annual rise of 2.4%.
The highest proportion of estate agencies was in London, accounting for 29.3%.
The South East was found to have 15.3% of the UK’s agencies, while the East of England accounted for 10.1%, and the North West region was home to 8.8%.
Colby Short, co-founder and CEO of GetAgent.co.uk, said: “It’s great news that agent numbers are rising to meet the surging demand from sellers.
“And for those sellers it means more choice, while agents also have to up their game in the face of stiffer competition.
“However, more choice can prove problematic for sellers when it comes to deciding which agent to opt for.
“To this end, word of mouth recommendations from recent sellers can help narrow the list.
“However, one positive review doesn’t necessarily guarantee you will find the same success.”
