Conveyancing cases drop to lowest number for two years

Conveyancing cases have dropped to their lowest number for two years, according to latest figures.

Search Acumen’s Q2 2019 Conveyancing Market Tracker showed that conveyancing volumes have dropped below 230,000 cases to 228,994, a decrease of 10% compared to Q1 2019.

The fall is also a 20% decrease from Q2 2016, before the EU referendum.

Search Acumen director Andy Sommerville said the uncertainty of Brexit has begun to affect the conveyancing sector.

“Smaller conveyancing firms who were already struggling to compete are now facing tougher conditions, while those who have been able to gain a larger foothold are now taking a bigger slice of activity than ever before.

“But it’s not all doom and gloom. Looking at the figures more closely, we can see that average monthly transactions are still healthier than the pre-referendum. Conveyancing firms that have established themselves in the strong middle are doing more with less and continuing to thrive in the midst of a challenging market.”

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