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Conveyancing firms see new-build business leap 62% in four years

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  • 05/04/2016
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Conveyancing firms see new-build business leap 62% in four years
The average conveyancing firm has enjoyed a 62% rise in new-homes business since 2010/2011, research by Search Acumen reveals.

Using Land Registry data to analyse competitive pressures in the conveyancing market, the research showed that 24 new homes a year are being completed for every active conveyancing firm, up from 15 four years ago.

Despite this, the analysis also suggested that the number of active firms registering property transactions has fallen by 29% in the last four years, down from 7,500 in 2011 to less than 5,400 in 2015.

However, Search Acumen anticipates that the positive trend for new homes business is set to continue, as government figures show that 253,000 new homes were given planning approval during 2015, a 5% rise compared to a year earlier.

At the same time, completions of new homes have seen a 15% rise in the last four years. Completions of new-build homes reached 130,660 in the 2014-15 financial year, up from 113,380 during 2010-11.

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