There has been a whopping 10.6% increase in estate agency numbers across the UK in the past year alone bringing the overall number to 24,500, up from 22,145 in 2021.

Market analysis by estate agent performance comparison site GetAgent.co.uk reveals the phenomenal increase with the North East seeing the largest uplift of all UK regions.

INCREASE

The figures show that there has been a 10.6% increase in estate agency numbers across the UK in the past year alone, bringing the overall number to 24,500, up from 22,145 in 2021.

This marks impressive annual growth given that, in the last five years, the number of agencies has increased by 20.6%, which means half of this growth has come in the past year alone.

The figures show that there has been a 15.4% increase in agency numbers when compared to the pre-pandemic market in 2019, demonstrating the influence that the pandemic property market boom has had on the industry.

HIGHEST

London remains home to by far the highest number of estate agencies. There are currently 7,155 agencies located across the capital, accounting for 29% of the UK total having increased by 11% in the last year.

In the North West, estate agency numbers rose by 13.5% in the last year, and Yorkshire & Humber saw an increase of 13.4%.

Mal McCallion, COO of GetAgent.co.uk, says: “It’s no coincidence that the number of estate agency branches has increased so notably since 2019, after which the pandemic market boom spurred an overwhelming level of activity.

“The nation’s agents have most certainly decided to make hay while the sun is shining in this respect, but with the market now starting to return to normality, the challenge facing them is how they remain competitive and profitable.”