New research from Moverly reveals that conveyancing costs have increased by as much as 18% over the past 12 months, adding to the financial burden on homebuyers and underscoring the growing pressures in the UK property transaction process.

Analysis of estimated UK conveyancing costs shows that homebuyers are currently paying an average of £1,375 when purchasing a freehold property, marking an annual increase of 13%. The average cost for a leasehold purchase has risen by 13.3% to £1,746.

Regionally, the North East has seen the highest increase in freehold conveyancing costs, with an 18% rise bringing the average cost to £1,311. Other significant increases have been recorded in the East of England (14%), South East (13%), Yorkshire & Humber (12.7%), and the North East (11.7%).

For leasehold properties, Scotland has experienced the steepest increase, with costs rising by 16.4% to an average of £1,193. Other notable increases have been seen in the South East (13.9%), North West (13.1%), London (12.4%), and South East (12.2%).

Gemma Young, CEO of Moverly, said: “With conveyancing costs rising so steeply over the past year, it’s clear that both homebuyers and conveyancing professionals are facing increasing pressures. The property transaction journey involves complex processes that have evolved over many years, and addressing these challenges requires industry-wide collaboration.

“As market pressures increase, we’re seeing how these forces affect transaction timelines and ultimately impact costs for homebuyers. This highlights why collaboration across the property sector is so important.

“The industry is now coming together around two complementary approaches: the introduction of upfront Material Information and the advancement of Digital Sale Ready standards. When properties meet these standards, all vital property and legal documentation is collected, verified, and digitally accessible from the beginning. This creates more efficient transactions – benefiting conveyancers, agents, and homebuyers alike.

“By improving both compliance information and legal readiness from the start of the process, we can collectively reduce duplication, save time for conveyancing professionals, and potentially reduce costs for consumers.”