Today’s Conveyancer has obtained from Land Registry its figures for applications made by firms in August. This gives us a good idea of the volume and amount of conveyancing transactions that conveyancers are completing.
Total applications, as many may expect given the recent gloomy market forecasts and the traditional summer hiatus, are down from July’s high of 250,000 to just 229,047. The number of firms making applications has also fallen slightly to 7531, from 7650 in July but higher than May’s figure of 7470.
Tellingly, almost 5000 of these firms made 15 applications or fewer during the month. Some firms are running very low volumes, with almost 3000 firms, councils and sole practitioners posting 5 or fewer applications during August.
Key conveyancers like Optima and Enact have both seen applications decline, to 5430 (July: 5521) and 3718 (3914) respectively. Other conveyancing firms like MyHomeMove have continued to grow.
August is traditionally a quiet month at the Land Registry, as both buyers and sellers put plans on hold during the summer holidays. However we await September results with interest to see whether volumes are seasonal or we are entering a double dip recession..
Today’s Conveyancer would like to make the whole of the data available to firms however as the number of readers rise and because the size of the whole file is large we are unable to do this economically. We have therefore made the top 100 file only available to registered users (who are logged in) and they can obtain that file from here
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