Research from Zoopla shows that estate agents in the Midlands and the North of England are significantly more positive about the wider economy than their compatriots in the South.
The data, taken from the property website’s “State of the property nation” report, describes 22 per cent of agents in the South feeling positive about the UK’s future hopes for growth versus 36 per cent in the North and 40 per cent in the Midlands.
Digging further into the data reveals that agents in both the South and the Midlands count the economic and political situation, with Brexit cited as one example, as their biggest challenge, at 74 per cent and 56 per cent, respectively.
In the North, meanwhile, the pressure to lower fees is stated as the biggest worry, at 63 per cent. In the Midlands, 53 per cent gave this answer, while in the South, 50 per cent agreed.
In terms of actions estate agents are most likely to take in future, plans to increase the use of technology was the most popular in the North and South, at 28 per cent and 26 per cent, respectively, while in the Midlands, the most popular answer was to do more marketing, which 30 per cent of those asked agreed with.
For letting agents, those in the South are most keen to do more marketing (31 per cent), while those in North – at 30 per cent – report plans to increase their use in technology. In the Midlands, the most popular answer was to expand into offering more services, which 24 per cent of those asked agreed with.
Zoopla managing director Charlie Bryant comments: “Being able to adapt to changes in legislation, regulation and the economy is critical for estate agents to maintain and improve business performance.”