Our latest Residential Market Research is now available.
 
Recently, Landmark interviewed 100 residential property solicitors and conveyancers in England, Scotland and Wales. We spoke to managing partners, heads of residential property law, fee earners, residential property solicitors and other directors. 

We gained invaluable insights into the residential property market, and it showed us what’s currently of concern to conveyancers and where they see future opportunities to help drive the success and profitability of their business. 

For example, within the last 12 months, incomplete information has meant our respondents have needed to raise enquiries in an average of 46% of cases, hence perhaps why 53% say having upfront information to assess the complexity of the work would have the biggest impact on profitability.

The Q4 2023 edition of Landmark’s Residential Property Trends Report is now live. Within the report, you’ll find the latest data from the residential property transaction pipeline, including listings, SSTC/SSTM, searches ordered and completions.

This is a market poised for return. Whilst supply remains consistently robust, subsequent pipeline metrics such as SSTC / SSTM, searches ordered and completions are still flat.

Key findings from Q4 ‘23 include:

• Listing activity in England and Wales in Q4 ‘23 registered the same volumes recorded in  Q4 ‘19.  
• Completions dropped in England and Wales in Q4 ’23 – 38% lower than Q4 ‘19.
• In Scotland, listings for Q4 ‘23 were 9% up on Q4 ’19, but completions were subdued by 13% vs Q4 ’19.
• Overall, dispute healthy listings, the residential pipeline remains constrained.

The Q3 2023 edition of Landmark’s Residential Property Trends Report is live. Within the report, you’ll find the latest insights into the residential property transaction pipeline from listings to SSTC/SSTM, and from searches to completions. 

Whilst supply is holding up, subsequent pipeline metrics such as SSTC / SSTM, searches ordered and completions remain low.

Key findings from Q3 include:

• Listing activity is up in England and Wales – 1% higher over Q3 ’23 vs Q3 ‘19.
• Completions dropped in England and Wales in Q3 ’23 – 35% lower than Q3 ‘19.
• In Scotland, listings are 4% up on Q3 ’19, but completions are subdued by 18% vs Q3 ’19.
• Overall, supply is still struggling to progress through the pipeline.

Download the Cross Market Activity edition for England, Wales and Scotland, and view the latest residential property market data for Q3 2023.

We hope you find the report helpful.

The Q2 2023 edition of Landmark’s Residential Property Trends Report is now live. Within the report, you’ll find the latest insights into the residential property transaction pipeline from listings to SSTC/SSTM, and from searches to completions. 

The report found that whilst supply is relatively strong, demand volumes are struggling to progress through the transactional pipeline.   

Headlines from Q2 include:
•    Supply is up in England and Wales – with listings 12% higher in June ’23 vs June ‘19
•    Completions dropped in England and Wales in Q2 ’23 – 39% lower than Q2 ‘19
•    In Scotland, the picture is marginally better but buyers are similarly constrained  
•    Overall, demand volumes struggle to progress across Great Britain as high interest rates, restricted mortgage availability and squeezed affordability continue to drive an uncertain market.

Did you know that the average time to buy a property in England is 133 days That’s 80% longer than in 2007. 

With transaction times lengthening, we delve into 15 years’ worth of data to uncover what’s really holding up the home-buying process.

Including sector-led perspectives from estate agency, conveyancing, surveying and lending, our Property Transactions Report investigates why buying a property in England and Wales is taking so long – and what we can do to unlock the value in the buying chain.

Our latest Property Transactions Report addresses some of the key questions facing the sector right now, including: 

• What’s the average time from instruction to completion?
• Where are the bottlenecks in the home-buying process?
• What’s the average turnaround time for a valuation?
• How can technology unlock the value in the transactional chain? 

The Q1 2023 edition of Landmark’s Residential Property Trends Report is now live. In it, you’ll find summaries of the last quarter’s residential property transaction pipeline from listings to SSTC/SSTM, and from searches to completions. 

The report shows partial signs of market recovery, with supply strengthening throughout the quarter, following the uncertainty of Q4 2022 – but overall volumes remain subdued.  

Headlines from Q1 include:

• Supply is up in England and Wales – from 10% lower in January ’23 vs ’19 to 6% higher in March ’23 vs ’19.
• Completions slowed in England and Wales in Q1 ‘23 – down 10% on Q4 ’22 volumes, likely due to the low SSTC figures at the end of Q4 ‘22.
• A slight uplift in volumes across all stages of the pipeline was seen in Scotland 
• Consumers’ ability to buy remains a crucial factor in influencing market trajectory after Q4 uncertainty

Download the Cross Market Activity edition for both England, Wales and Scotland, and review the latest data from the UK property market during the first quarter of 2023. 

We hope you find it useful.