Conveyancing volumes rose at the end of 2025 easing fears of another market dip but increasing pressure on legal firms handling mortgage completions.
Research from Search Acumen, based on HM Land Registry data, shows 332,830 property transactions completed in Q4 2025 – up 3.09% on the 322,690 recorded in Q4 2024.
While still 0.9% below the post-pandemic peak in Q4 2022, activity held up through the traditionally quieter final quarter, signalling renewed resilience in the housing market.
STEADIER COMPLETION PIPELINES
But consolidation across the legal sector – although now slowing – means fewer firms are handling larger volumes of cases.
After peaking in 2023, when active firm numbers fell by 5.32%, consolidation slowed to a 2.82% drop in 2024 and just 0.35% in 2025. Over the past decade, the total number of active law firms has reduced by 13.7%.
At the same time, average caseload per firm has increased by 5.8% over 10 years, pointing to a continued concentration of work among larger operators – a shift that can impact turnaround times and service levels during busy periods.
MARKET SHARE
In Q4 2025, the top five firms accounted for 6.04% of transactions, marginally up from 6% in 2024. The top ten firms’ combined share dipped slightly from 10% to 9.86%, while the top 20 edged up from 14% to 14.14%.
Andrew Loyd, managing director at Search Acumen, said: “After an unprecedented decade of pressure on the conveyancing sector, it’s encouraging to see transaction volumes end 2025 on a stronger footing, with activity holding up through Q4.
“What’s particularly striking in the latest data is that consolidation now appears to be stabilising; firm numbers are no longer falling at the pace we saw in 2023, yet average caseloads per firm are continuing to rise significantly year on year.
“That creates real commercial opportunity, but it also reinforces the operational strain on legal teams who are already working hard to meet demand.
DIGITAL INNOVATION
He added: “We shouldn’t underestimate the contribution conveyancers continue to make to the wider property market and the UK economy.
“The sector’s ability to sustain service levels as volumes grow will increasingly depend on further digital innovation.
“Better data, smarter workflows and automation can support legal professionals, improve resilience, drive efficiency and help reduce cost and complexity for firms and their clients.”
