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Conveyancing activity bounces back at start of 2018

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  • 21/05/2018
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Conveyancing activity bounces back at start of 2018
Conveyancing transactions jumped in the first three months of the year, compared with the three months prior, according to data from technology firm Search Acumen.

 

The number of cases increased by 12% in the first quarter from the end of 2017, and 11% compared to the same time last year.

Total transaction volumes over the three-month period reached 271,546, the highest number recorded the second quarter of 2016.

Firm’s processed an average 64 cases in the first Q1, up from 59 at the end of last year.

First registrations were up 40% on last year’s figures, while transfer of part transactions were up 25%.

Andrew Lloyd, managing director of Search Acumen, said:“It’s great to see that despite a reportedly stagnant housing market and headlines predicting a housing bust, conveyancers have bounced back from a disappointing end to 2017.

“Regardless of a strong start to the year, we are still of the opinion that 2018 will be full of challenges for conveyancers while the housing market continues to stumble along.

“We all look to the government to find ways to free up the housing market and create more stock, but it’s down to us to ensure the conveyancing market effectively adapts to the future landscape of property transactions.”

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