Land Registry data shows extent of market consolidation
HMLR data demonstrates a shrinking market of conveyacing firms and pressure on mid sized conveyancers.
Data released last week from Land Registry shows that whilst over 4300 firms conducted conveyancing in May the bulk of the market is serviced by a much smaller number of firms.
In May there were 77402 applications made to Land Registry by account holders for transfers for value.
As Land Registry altered the way it collated this data a couple of years ago comparisons over time are not accurate however we were surprised by the proportion of work being conducted by the top 1000 firms.
My Home Move Limited
J S Law
Martin Tolhurst Partnership Llp
It would appear that the bulk of the 19% growth in the market over the last t2 months has been taken up by firms within the top 1000 but not necessarily the largest of those firms.