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With the onset of the summer months the residential property team here at BCL Legal normally witness a recruitment hiatus, however this year it’s nowhere to be seen!
Home.co.uk Asking Price Index (HAPI), which provides data on asking price, stock and supply trends, has just released their latest figures for July which corroborate our findings. This month’s report revealed:
• O.4% overall increase in house prices across England and Wales in June
• Average time on market for England and Wales drops to 177 days; the lowest figure since November 2008
• The South East remains the UK’s fastest regional market, with a typical time on market of 59 days
Increased buyer demand is driving house prices higher. This is coupled with demand outstripping supply in most parts of the country. In light of this increased confidence in the property market, law firms are taking action. Re-distributing excess workload to existing fee earners is no longer an option if they are to remain competitive on the high street.
Consumers looking to buy/sell property are becoming increasingly impatient, demanding shorter conveyancing timeframes and greater interaction with their lawyer. Firms need to keep pace with the constantly evolving habits of the consumer. Whether it’s your weekly grocery shop or a house purchase, more and more of ‘us’ are shopping online, tracking purchases online. We are no longer confined to traditional opening hours. This trend is reflected in the number of firms upgrading their on-line case management systems, allowing client’s access to information and progress updates 24hrs a day. Technology is becoming increasingly important in the world of conveyancing. The volume providers are leading the charge on this however firms on the high street need to keep pace or risk losing market share.
As a niche team of experienced recruitment consultants specialising solely in residential property vacancies across the Midlands and Home Counties, we are inundated with vacancies with well regarded firms, both large and small, who are all looking to recruit residential property lawyers into their teams. Whether you’re a junior paralegal with c6 months experience or a Head of Department dealing with residential and commercial property matters, firms are eager to recruit you.
If you are looking to recruit into your property team or are a property lawyer looking to make a move within the Midlands or Home Counties and would like a confidential discussion with a market expert, contact Joanne Lack, Manager of the residential property team at BCL Legal.