The Q1 2024 release of Landmark’s Residential Property Trends Report is now available. This report contains the most recent data from the residential property transaction pipeline, covering listings, SSTC/SSTM, searches ordered and completions. 

Our latest data gives reason for cautious optimism: listing volumes remain strong, building steadily through Q1 ‘24 in England and Wales. Listing numbers in Scotland also began on a positive footing. 

Key findings from Q1 ‘24 include: 

  • In England and Wales, listing volumes in Q1 ‘24 were up 5% vs Q1 ’19. Listings in Scotland were down just 2% in Q1 ‘21 vs Q1 ‘19.  
  • SSTC volumes in England and Wales for Q1 ’24 tracked 32% below Q1 ‘19, with SSTM levels in Scotland 22% down vs Q1 ‘19.
  • Completion volumes in England and Wales for Q1 ‘24 were down 41% compared to Q1 ‘19 levels. In Scotland, completions were down 2% in Q1 ‘24 vs Q1 ‘19. 

Download the Cross Market Activity edition covering England, Wales and Scotland, unveiling the latest residential property market data and insight for Q1 ‘24.  

We trust you’ll find this report to be a valuable guide as we move into the second quarter of 2024.

 

OneSearch is delighted to be sponsoring the Conveyancing Firm of the Year North category at the 4th Annual British Conveyancing Awards, taking place in London on Tuesday 12th March.

The British Conveyancing Awards is about bringing people together and recognising the excellent firms and organisations who stand out from the rest. The event will additionally be live-streamed via the British Conveyancing Awards website.

Our Head of Sales Operations Robin Wells will be in attendance on the night to present the deserving firm with the award, and will be supported by his OneSearch colleague James Shepherd, as well as other representatives from the wider Landmark family.

Alongside OneSearch, our LIG sister companies are also presenting awards, including:

  • Conveyancing Firm of the Year South: Sponsored by SearchFlow
  • Conveyancing Firm of the Year Midlands: Sponsored by Ochresoft
  • Conveyancing Firm of the Year National: Landmark Information Group

On behalf of us all at OneSearch, we wish all the nominees the best of luck, and we look forward to seeing you on the night!

To find out more on the Awards, please click here.

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.

Find out your colleagues and client’s views on: 

  • The biggest impacts on conveyancing’s future success
  • The benefits of receiving data insights on the property and
  • location Frustrations with the transactional process

…and more! 

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.

Download the Cross Market Activity edition covering England, Wales and Scotland, revealing the most recent residential property market data for Q4 2023. We hope you find the report a helpful steer as we begin 2024.

Landmark’s major new cross-market report has uncovered the top challenges and priorities for 2024 shared by estate agents, conveyancers, surveyors and lenders across the transaction chain.  

Our new cross-market report found that market challenges and the length of time it takes to complete a transaction to be among the top frustrations shared by all residential property professionals. 

The report, entitled ‘Future Thinking: what’s driving property professionals into 2024?’, features the views of hundreds of estate agents, conveyancers, surveyors and lenders.  

A striking convergence  

Our findings highlight some of the challenges and frustrations that senior property professionals are currently prioritising and sense-checks these against the aspirations of home movers.  

Here are some of the key headlines:  

  • Economic headwinds have clearly affected the sector, with over 75% of all groups citing the current economic climate, interest rates and the cost of living as a leading business concern for the next year.   
  • The length of time to complete a transaction was a top three frustration in the transactional process for estate agents (37%), surveyors (40%) and lenders (36%).
  • The ever-increasing regulatory and admin burden placed on property professionals appeared as a top five frustration for all four groups, with lenders ranking highest in this area, with 55% agreeing.  
  • All groups spent over 20% of their working days chasing or being chased – with poor communication among stakeholders cited as a top five frustration for estate agents and conveyancers in particular.   
  • Looking ahead, better technology and less administration were seen a key for all groups in improving efficiencies and reducing costs. 

Protracted timeframes  

Our research also canvassed the views of 500 home movers, with this group also sharing the sentiment expressed by property professionals to speed-up transactions. In fact, the majority of consumers aspired to wrap up their home moves within an 8-week timeframe – which is in stark contrast to the current average transaction time of 19 weeks1.  

A desire for digitisation  

The report also highlighted a remarkable consensus regarding the best solutions to addressing these challenges. Digitising workflows featured highly for three of the four groups, with surveyors (63%) and lenders (55%) ranking it as the leading factor that would have the biggest impact on productivity, and estate agents placing it third (41%.)   

Simon Brown, CEO, Landmark Information Group says:   

“Our research has thrown into sharp focus the many shared challenges our sector is facing. It also reminds us that we’re all part of the same property ecosystem, and although our roles and areas of expertise are different, we share more areas of commonality than we perhaps thought.   

“If we are all experiencing some of the same frustrations around difficult communications, increasing amounts of administration and a desire for better technology, then we need to focus on a collaborative solution to provide the speed and certainty the property professionals and consumers are so desperately craving.”   

Access our new market research report here.

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.