Industry Analysis & Industry Trends
Workers, households and individuals across Australia are exposed to numerous risks, with many incidents and transactions requiring the services of a legal practitioner. While personal injury represents a significant contributor to industry revenue, other major industry services include property law and family law. The industry primarily consists of small firms and sole proprietors, although several large players operate in the industry and focus on personal injury law. Over the five years through 2015-16, industry revenue is expected to grow at an annualised of 3.9% to reach $7.0 billion, with estimated growth of 1.7% in the current year.
The fiercely competitive personal injury market, which is among the most significant industry service segments, has been consolidating... purchase to read more
Industry Report - Industry Products Chapter
Industry services can roughly be broken down into four main services: property law, family law, personal injury law, and will, probate and estate activities. Industry firms provide several other personal legal services, including employment and migration law. Advice or representation relating to the defence of criminal charges is not included in the industry.
Property law refers to conveyancing and other legal work related to property. Conveyancing refers to the transfer of property titles, which accounts for the majority of the property segment, and is a low value-added option. Conveyancing faces strong competition from mortgage brokers or other full-service mortgage providers, who often provide this service... purchase to read more