Fewer conveyancing firms in 2015

February 16, 2016

According to Search Acumen the total number of active conveyancing firms dropped by 9% in 2015, that equates to more than 500 firms.

Conveyancing firms  recorded an average of 192 transactions in 2015, compared to 175 transactions in 2014, the increase came despite the overall conveyancing market remaining flat with 1,030,023 transactions in total during 2015.

The market share of the top 1,000 ranking firms rose to 71 per cent  in 2015, that is the highest since records began in 2005.

Mark Riddick, Chairman of Search Acumen reportedly said: “The trend in market consolidation continued in 2015 with the dropout rate of 9% three times higher than the 3% seen in 2013 and 2014. Despite more conveyancers leaving the market, transaction volumes grew only slightly in comparison to growth in a very buoyant 2014.

“In fact, the average firm saw its transaction volumes grow at the slowest rate since 2012. This was the year when the property market was still coming out of the post-recession doldrums – and therefore a very low benchmark. Growth in the upper echelons was also muted despite the top 1,000 gaining market share.

“The importance of referrals and direct enquiries as a source of new business should help to focus minds on the priorities for 2016. There is no room for a laid-back expectation that introducer-driven guaranteed business from sources like estate agents will simply keep coming through the door. The more that firms can do to meet and exceed expectations with the service to existing clients, the better chance they have of benefiting from this trend.”

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Four to five houses is the sweet spot for first-time buyers

House hunting before the stress kicks in Just 20% of us feel excited on a first property viewing, rising to 47% by viewings 4 to 5 There’s a U shape trajectory of excitement when it comes to the viewing process However, there is a gradual rise in stress levels the more properties viewed Overall just…
Read More →
Estate Agents should not all look the same
Letting Agent Talk

Opinion: Why Letting Agents Are The Cape-Wearing Heroes Landlords Need 

By Sally Lawson | Agent Rainmaker Let’s be honest – no landlords signed up to become compliance officers, legal experts, or legislative gurus. They signed up to invest in property. And yet, the weight of the regulatory obligation that’s landed on their shoulders has never been heavier.  And that’s even before the Renters’ Rights Act…
Read More →
Letting Agent Talk

Void periods ease following RRA implementation, but remain higher than a year ago

The latest analysis by property management specialist, Rushbrook & Rathbone, has found that average rental void periods across England have eased since the implementation of the Renters’ Rights Act (RRA) in May, suggesting that landlords are beginning to adapt to the new legislative landscape. The firm believes many are using this period of change as…
Read More →
Estate Agent Talk

76% of Poor Conveyancing Experiences Feature Communication Issues

Konnect You analysis finds that communication issues feature in more than three in four poor conveyancing experiences, with missing updates, slow responses and repeated chasing emerging as common frustrations. Communication problems, including limited updates, delayed responses and repeated chasing, featured in 76% of poor home-mover conveyancing experiences analysed by Konnect You. The findings suggest communication is a major factor in how home movers experience delays.…
Read More →
Breaking News

1 in 8 new-build homes unsold after six months

Developers hold their nerve as one in eight new-build homes remain unsold after six months   Jonathan Samuels, CEO of specialist lender, Octane Capital, believes that developers are increasingly prioritising profitability over speed of sale, with new-build homes spending longer on the market as developers resist unnecessary price reductions and instead look to protect scheme…
Read More →
Breaking News

Rental price and average salary tracker – July 2026

Year-on-year Rental Price Growth Moderates, Yet High Demand and Limited Supply Continue to Push Rents Higher London recorded the strongest monthly rental growth, with average rents rising from £2,385 to £2,484 (+4.2% month-on-month). As a result, the representative annual salary needed to secure the average-priced rental home increased from £70,050 to £74,520 (+6.4% year-on-year). The…
Read More →