The top five conveyancing firms handled 10% more transactions in the second quarter of this year than in the same quarter the previous year, research has shown. However, the bottom half of the top 100 have showed the fastest growth over the past four years.
The top five conveyancing firms handled 36% fewer transactions in the first quarter of this year, a report has found, and their market share dropped from 8% to 6%. On average, firms handled 14% fewer transactions and the number of firms also fell.
The biggest conveyancing firms have benefited the most from the recession, while the number of practices involved in conveyancing has continued to fall, a survey has revealed.
The Land Registry is to change land registration legislation to ensure that alternative business structures can compete effectively with traditional law firms. It says the prospect of increased competition is potentially good for consumers.