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Conveyancing activity increases by 55%

Conveyancing is booming with activity soaring by 55%.

Productivity levels in the Conveyancing market have risen by 55% over the past three years, new figures have shown.

Data published by property and land search provider Search Acumen showed an average of 110 transactions per conveyancer during 2015, up from 71 in 2012.

The average Conveyancer completed one transaction every 2.4 working days in 2015, compared with just one every 3.5 working days in 2012.

This rise may be attributed in part to a 7% drop in the number of active conveyancers over the same period.

Andrew Lloyd, managing director at Search Acumen, said: “Conveyancers have achieved something truly spectacular in terms of productivity.

“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.”

Andrew suggested that technology would prove key in helping Conveyancers to manage their larger workloads.

“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.

“[In 2017], having access to the latest technology and ensuring the right processes are in place should be a top priority.

“A small change to the way conveyancers work can add up to bigger improvements in productivity which eventually add up to increased customer satisfaction.”

However, in December, a surveyor firm warned that relying too heavily on technology could be dangerous. Undoubtedly, the use of technology can aid efficiency in helping firms to work smarter..  However, it would be dangerous to rely on purely the technology.

Are you ready to step on to the property ladder?  Call our Team on 02920 484550 to receive your free consultation.

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