"The diverse nature of the UK property market means that while some agents are hard at work with sales progression, others haven’t quite seen the same resurgence in for-sale stock levels just yet"
- Adam Day - eXp UK
eXp UK's latest research looked at which cities are home to the busiest estate agents in the current market and which cities present the greatest opportunity for agents in cooler market conditions.
eXp UK measured the number of residential estate agency branches across 25 major cities in Britain, before measuring this number against the current number of homes for sale in each city (including those sold subject to contract), to reveal which markets are currently busiest from an agent point of view and which are posing the most challenging.
The data shows that across the 25 British cities, there are an average of 343 estate agency branches per city, while the average number of listings per city is 3,710 listings.
As such, there are an average of 11 listings per branch across the 25 cities analysed by eXp UK.
When it comes to the most prosperous markets at present for estate agents, Liverpool sits top with the highest average number of listings per agent.
Some 8,003 homes are currently listed for sale across Liverpool and with 423 estate agency branches operating within the city, this equates to an impressive 19 for sale listings per branch.
So while Liverpudlian estate agents clearly have no trouble when it comes to securing a healthy degree of initial businesses, they’ve certainly had to hit the ground running in 2024 as some of the busiest in the UK when it comes to sales progression.
Portsmouth is also home to some of the busiest agents at the start of 2024, with 2,240 listings and 124 branches equating to an average of 18 listings per branch, followed by Leeds with an estimated 16 listings per branch.
Other cities where estate agents are off to a quick start to the year include Cardiff (15), Nottingham (14), Glasgow (14), Bristol (14), and Sheffield (14).
However, not all agents are enjoying a fast start to the year. In Newcastle, current for-sale stock equates to an average of just six listings per agent, with Preston (6), Swansea (7), and Northampton (8) also home to some of the lowest average for-sale stock levels per agent of all cities analysed by eXp UK.
The diversity of the UK property market no doubt plays a part and the figures suggest that earnings opportunities within these cities are fewer and further between, highlighting the importance of focussing on business performance and pedigree and preparing accordingly to win more instructions.
Head of eXp UK, Adam Day, commented: “With the market starting to pick up towards the back end of last year, it’s been a perhaps surprisingly busy start to 2024 for many estate agents. Growing stability has tempted both buyers and sellers back to the fold and many agents are finding that the initial task of building their property portfolios isn’t as hard as in previous months, it’s the sales progression that is keeping them busy.
"Of course, the diverse nature of the UK property market means that while some agents are hard at work with sales progression, others haven’t quite seen the same resurgence in for sale stock levels just yet.
"For these agents, demonstrating why they are the best choice will ensure it’s only a matter of time before their portfolio of for sale stock starts to build, as the market continues to show ongoing signs of positivity already this year.”
