Zoopla: Half of agents expect increase in supply
Over half (52%) of agents predict to see an increase in the supply of homes in 2020, according to data collected by Zoopla.
This figure is up on the 39% recorded 12-months prior.
Additionally, 40% of agents are expecting to see a rise in revenues from additional series such as mortgage advice and brokering.
The number of home sellers who instructed a high street agent in 2019 was noted at 79%, up from 63% in 2018.
The volume of completed transactions overseen by high street agents also rose over the same time frame, up from 51% to 66%.
On a regional basis, the South West recorded the greatest number of home sellers advising a high street agent in 2019 at 83%. Meanwhile, Scotland saw the lowest proportion at 64%.
The survey, on which the data is based, assessed 6,000 consumers and over 650 agents.
Andy Marshall, chief commercial officer, Zoopla, said: “Estate agency as an industry is increasingly diverse and the emergence of onlines and hybrids have certainly given the market a new dimension.
“That said, with research indicating that high street agents are steadfast in their appeal, it suggests that all operators are working to differentiate and add value to consumers – whether it’s through local knowledge, sage market insight or competitive fees.
“We are also seeing agents actively diversify the services that they offer vendors. Not only does this reap financial rewards for their businesses, but also provides a one-stop shop and eases pain points for buyers and sellers.”