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Productivity levels in the conveyancing market have soared, rising by 69% in just four years from 71 cases per year in 2012 to 120 cases per year in 2016. With cases continuing to rise but the number of conveyancers falling, those who remain are faced with an ever-increasing workload and are being forced to find more ways to work smarter.

“While temperatures have soared this summer, the property market has seen only a gradual uptick in transactions during recent months. Factoring in seasonal adjustments leaves activity looking fairly flat, and it’s no coincidence that an unexpected election result has coincided with the first drop in monthly residential and non-residential transactions to below 100,000 and 10,000 respectively this year.

While spring normally sees a flurry of activity, the snap election has slightly dampened buyers’ and sellers’ interest and means that transactions have been steady rather than spectacular. The temptation to adopt a ‘wait and see’ approach has kept the market on a broadly even keel, with activity dipping slightly from April to May.

Andy Sommerville, Director of Search Acumen, comments on HMRC Property Transactions April 2017

Today’s figures show that UK house prices are continuing to slow, falling from 5.6% growth in February to 4.1% in March. This trajectory is no doubt reflective of the wider sentiment of the UK housing market, with the industry remaining flat and stagnant in the face of ongoing uncertainty.