“Spectacular” surge in conveyancing transactions
12 December, 2016
Market analyst Search Acumen’s latest Conveyancing Productivity Index reveals that the number of conveyancing transactions recorded in the UK has increased by more than half in the last three years.
According to the index, the average conveyancer completed one transaction every 2.4 working days in 2015, up from one transaction every 3.5 working days recorded in 2012.
The total number of transactions recorded has risen by 55 per cent since 2012 – exceeding the 44 per cent rise recorded in total purchase and sales transactions over the same period, according to reports.
Andrew Lloyd, Managing Director at Search Acumen, said: “Conveyancers have achieved something truly spectacular in terms of productivity.
“An average increase of 11 transactions per person each year is a result that most other UK industries, especially those in the services sector, will envy.
“However, many conveyancers are undoubtedly feeling the pressure of the extra workload and many firms have been working flat out to handle the rising number of transactions we have seen since 2012”.
He added: “To sustain the gains that have been made in recent years in an uncertain post-Brexit business environment, conveyancing firms will have to step up their efforts even more to stand out from the competition.
“As we approach the New Year, having access to the latest technology and ensuring the right processes are in place should be a top priority”.
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