Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Conveyancer numbers fall by 2,000 as time to exchange hits 123 days

The number of solicitors practising in residential conveyancing in England and Wales has fallen by more than 2,000 since the end of 2021, while separate market data shows the average time to reach exchange has risen to approximately 123 days.

The figures raise capacity concerns across the property transaction chain. Letting agents and inventory clerks may see this in slower move-in timelines and longer waits for legal completion on sales.

Workforce and market data

According to the IRN UK Residential Conveyancing Market Report 2026, 10,724 solicitors were practising in residential conveyancing in England and Wales by January 2026, more than 2,000 fewer than at the end of 2021. The report also estimated that 5,904 UK law firms were active in the residential conveyancing sector.

Meanwhile, data from TwentyCi for 2025 put the average time to exchange at approximately 123 days, although transaction times vary considerably depending on the region and individual circumstances.

Regulatory pressure on conveyancing teams

The figures come as legal software provider Access Legal publishes its State of the UK Conveyancing Market 2026 report, examining the pressures facing conveyancing firms as they manage workloads, regulatory requirements and changing client expectations. The research draws on 15 months of HM Land Registry data covering April 2025 to June 2026, client satisfaction data from 1,388 verified reviews, and an assessment of regulatory changes affecting conveyancing practice during FY25/26 and beyond.

According to the report, conveyancers are dealing with high workloads and longer completion times, creating potential bottlenecks and increasing pressure on teams. The sector has also faced a series of regulatory and compliance changes since April 2025, including stricter anti-money laundering requirements, mandatory new TA6 and TA7 property forms, and revised Money Laundering Regulations guidance. With further Treasury reviews expected before the end of the year, the report says conveyancers are likely to continue spending significant time on administrative and compliance work.

Technology as a capacity answer

The report says the ability to process higher volumes per fee earner is an important metric for firms over the coming year, achievable through technology, process efficiency and the use of artificial intelligence.

Andrew Stevens, general manager at Access Legal, said technology could help firms increase capacity without increasing headcount, adding that while technology and AI cannot replace empathy or judgement, they can help alleviate stress and contribute to preventing burnout.

The report concludes that firms will need to balance increasing demand and regulatory requirements with the capacity of their existing teams.