IRN and ARK Group launch new conveyancing report
Research key to understanding market as Brexit impact looms, says conveyancing expert
Research and ARK Group launched their first sector-specific report last week, the UK Residential Conveyancing Market Report, one of many in an exciting venture.
As well as market size, trends data, and profiles of leading companies in the market, each of the new reports will contain a significant amount of original research material based on surveys of practitioners, plus sector insights and analysis from leading specialists in each practice area.
Key findings from the first report showed that the last 12 months had been a good year for residential conveyancers as housing transactions continued to grow, with 70 per cent enjoying healthy increases in their own transaction volumes.
Over a third of firms have increased conveyancing staff numbers in the last year, with the majority of these increasing the number of fee earners. Less than 10 per cent have decreased staff numbers.
Brexit notwithstanding, a clear majority of firms are expecting to see volume growth in the next 12 months, while one in five are expecting to increase staff numbers. The research results also confirm that fixed fees are now the dominant pricing model used by over 60 per cent of firms.
Speaking at the launch, David Mort, IRN Research director, expressed his delight at the new venture.
'I am excited about the new venture and the opportunity it has given to revamp the reports and add considerably more content and market insights.'
Following the UK public's vote to leave the European Union last week, Rob Hailstone, founder of Bold Legal Group, spoke to SJ about the importance of IRN's conveyancing report.
'With the EU referendum having gone the way it has, and the uncertainty in the economy and property market that will follow, there could not be a more important time to pay attention to the findings in the IRN Research into the UK Residential Conveyancing Market.
'Understanding how you win new clients, retain existing clients, and consistently impress all clients and business contacts is paramount. With many firms being understaffed in the last few years, will some firms now be overstaffed? You will need to make well-thought-through commercial decisions shortly, and having a report like this one to hand will assist you greatly.'
To purchase the report please contact Ark Group's subscriptions sales manager Emily-Jane Beechey emilyjane.beechey@wilmingtonplc.com