The latest IRN UK Residential Conveyancing Market Report reveals the volume of residential transactions in the UK has increased for the second year running in 2025, following declines in 2022 and 2023. The residential conveyancing market registered market value growth of 7.0% in 2025 and is forecast to grow by 6.1% in 2026.
The sector was helped by four interest rate reductions in 2025 along with a cost-of-living improvement for some consumers, the publishers of the report said.
However, measures of law firms and solicitors working in conveyancing show a shrinking sector.
“While the market has been growing recently, the number of law firms and conveyancers serving this market has been falling,” IRN explained. “There were an estimated 5,904 law firms in January 2026 active in residential conveyancing in the UK (combined Law Societies figures) but numbers have fallen year-on-year: in September 2021 numbers were closer to 7,000 (6,763).”
Figures from HM Land Registry also suggest fewer firms in England and Wales. In January 2026 there were 3,425 conveyancers registered, decreasing from 3,539 a year earlier. Numbers have been falling steadily since 2022: there were over 4,000 at the end of 2022.
Solicitor numbers working in residential conveyancing are also falling. By January 2026 there were only 10,724 practising in the sector in England and Wales – a drop of over 2,000 solicitors since the end of 2021.
“As numbers drop, the shortage of qualified conveyancers becomes a problem as demand starts to grow,” the report’s authors said. “The growing use of AI and other digital tools in residential conveyancing transactions is helping to counteract declining conveyancer numbers but there is still a skills shortage.”
Consolidation is increasing, albeit at a slow rate. In 2025, the top 10 single conveyancer brands accounted for 10.3% of all transactions, an increase from 9.7% in 2024.
The market remains highly fragmented, the report suggests, with a large population of smaller law firms, including many general practice firms, and conveyancers often focusing on local markets.
