Market evaluation by property agent efficiency comparability website, GetAgent.co.uk, reveals that the UK has seen an outstanding enhance in its variety of property companies, with the North East seeing the most important uplift of all UK areas.
GetAgent analysed the variety of actual property companies throughout the UK and the way the sector has grown during the last 5 years.
The figures present that there was a ten.6% enhance in property company numbers throughout the UK previously yr alone, bringing the general quantity to 24,500, up from 22,145 in 2021.
This marks spectacular annual progress provided that, within the final 5 years, the variety of companies has elevated by 20.6%, which implies half of this progress has come previously yr alone.
The truth is, the figures from GetAgent present that there was a 15.4% enhance in company numbers when in comparison with the pre-pandemic market in 2019, demonstrating the affect that the pandemic property market increase has had on the trade.
To place this annual fee of progress into perspective, between 2017 and 2021, there was a median annual enhance of 456 companies per yr. Nevertheless, between 2021 and 2022, the variety of companies throughout the UK climbed 2,355.
London stays residence to by far the best variety of property companies. There are at the moment 7,155 companies positioned throughout the capital, accounting for 29% of the UK complete having elevated by 11% within the final yr.
Nevertheless, with the London market seeing a extra subdued degree of pandemic market exercise, the area sits mid-table with regards to the annual progress in company numbers.
This accolade goes to the North East area the place the variety of companies has elevated by 14.1% on an annual foundation.
Within the North West, property company numbers rose by 13.5% within the final yr, and Yorkshire & Humber noticed a rise of 13.4%.
COO of GetAgent.co.uk, Mal McCallion commented:
“It’s no coincidence that the variety of property company branches has elevated so notably since 2019, after which the pandemic market increase spurred an awesome degree of exercise.
The nation’s brokers have most definitely determined to make hay whereas the solar is shining on this respect, however with the market now beginning to return to normality, the problem dealing with them is how they continue to be aggressive, and worthwhile.
The most effective brokers, providing the very best service, are these almost certainly to triumph, as they proceed to information sellers by way of more and more troublesome market circumstances to the last word objective of a sale.”