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.

7.5% were conducted by the top 10 firms 
25% by the top 100 firms
71% by the top 1000 firms

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.

The largest firms were:

My Home Move Limited

Countrywide Property Lawyers

O’Neill Patient

Birchall Blackburn

Beaumont Legal

Shoosmiths

Grindeys Llp

Bower & Bailey

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.

Separately Land Registry reported that 42% of all applications were made in the South East and Greater London which may explain why so many regional conveyancers are opening satellite offices in and around the London area.

Today's Conveyancer