Property transactions bounced back in the third quarter of 2017 but are still down on the same period last year, conveyancer data suggests.
Software provider Search Acumen says transaction volumes in the three months to September reached 254,606, 21% higher than the four-year low recorded in the second quarter of 2017 but 6% down on the same period of 2016.
Overall, firms processed 61 transactions each on average in the third quarter, up 19% from 51 in the previous quarter to the highest figure in the past year. There were 64 transactions per firm in the third quarter of 2016.
Andrew Lloyd, managing director of Search Acumen, said: “After the noticeable dip in conveyancing activity in the second quarter, it’s encouraging to see an uptick in business through the late summer and autumn period.
“The conveyancing industry has broadly rebounded to ‘business as usual’, picking up where it left off at the beginning of the year.”