Dwelling Values Have Moved Up Strongly

Year-on-year (January 2017) growth in dwelling values for combined capital cities was 10.7%. In Sydney it was 16%. How did that happen? Here are some suggestions: interest rates, investors, lenders and immigration. Of course this raises further questions such as why are interest rates so low? First home buyers are at near record lows as a proportion of owner occupier housing finance commitments. Investors have recently represented 48% of new mortgage demand nationally and 57% across NSW. (video below)

The perils of investing in publicly listed professional services firms on display again

McGrath Ltd share price since listing to 10/2/17
What could possibly go wrong? What could go wrong with investing in a business where the key asset is the people who come to work each day? Almost all businesses claim that their people are the most important asset but there is a difference when it comes to professional services businesses. When a professional leaves a professional services firm they usually take a chunk of clients and revenue with them. Even worse, professionals are not so easy to replace. Even if you can replace the technical skills, you might not be able to replace the revenue that has walked out […]

Solicitor Numbers Grow More than Twice Economic Growth

The number of solicitors with practising certificates has been growing at 2.5x the rate of growth of the economy. This result is revealed by comparing NSW solicitor statistics and Australia-wide GDP growth. The number of solicitors with practising certificates in NSW as at December 2016 was 30,848. Over the two years to September 2016 the number of solicitors with practising certificates increased by 10.5% whereas GDP increased by 4.25%. The slowest growth in numbers has been CBD based solicitors. Over the last three years the number of country solicitors has grown at a faster rate than city solicitors. However, the […]

Aussie Legaltech Startup Advances Field of Legal Procurement with New Collaboration

Aussie legaltech startup, Lawcadia has announced a formal collaboration with legal procurement trade organisation Buying Legal Council. Originating in Brisbane, Lawcadia launched less than one year ago. Its first revenue came from a state government agency in March 2016. Lawcadia Explainer Video from Lawcadia on Vimeo. The purpose of the collaboration with Buying Legal Council is to continue to build a local Asia-Pacific community to support legal procurement professionals and other in-house professionals interested in legal procurement, such as legal operations and in-house counsel, through advocacy, networking, research, and information dissemination. The partnership between the Buying Legal Council and Lawcadia means that the Buying […]

Aussie Legaltech Startup Advances Field of Legal Procurement with New Collaboration

Aussie legaltech startup, Lawcadia has announced a formal collaboration with legal procurement trade organisation Buying Legal Council. Originating in Brisbane, Lawcadia launched less than one year ago. Its first revenue came from a state government agency in March 2016.   Lawcadia Explainer Video from Lawcadia on Vimeo. The purpose of the collaboration with Buying Legal Council is to continue to build a local Asia-Pacific community to support legal procurement professionals and other in-house professionals interested in legal procurement, such as legal operations and in-house counsel, through advocacy, networking, research, and information dissemination. The partnership between the Buying Legal Council and Lawcadia means that the Buying Legal Council can […]

Legal industry bosses hit the pavement to talk about The Big Issue

GlobalX CEO, Peter Maloney is taking to the streets this week to help raise awareness for homeless and disadvantaged people working to improve their lives. Mr Maloney is one of over 100 prominent Australian business and political figures selling street magazine The Big Issue. Mr Maloney said executives and politicians from across the nation were supporting a cause to raise not only awareness but much needed funds for vendors who sell the magazine. “It has always been the Australian way to help out those in need, but with so many people sleeping on the streets each night, more needs to […]

Legal Industry Bosses Hit The Pavement To Talk About The Big Issue

Peter Maloney, CEO of legal technology and services company GlobalX is one of over 100 prominent Australian business and political figures selling street magazine The Big Issue
GlobalX CEO, Peter Maloney is taking to the streets this week to help raise awareness for homeless and disadvantaged people working to improve their lives. Mr Maloney is one of over 100 prominent Australian business and political figures selling street magazine The Big Issue. Mr Maloney said executives and politicians from across the nation were supporting a cause to raise not only awareness but much needed funds for vendors who sell the magazine. “It has always been the Australian way to help out those in need, but with so many people sleeping on the streets each night, more needs to […]

Tikit Launches Timekeeping App Via The Cloud

    Tikit, a global provider of technology solutions to legal and accountancy firms, has announced the availability of Carpe Diem, its flagship timekeeping application, as a cloud computing model. Effective immediately, existing Carpe Diem customers as well as prospective professional services organizations, can choose from traditional time recording on timesheets at the desktop; an easy to use interface for mobile devices/increased lawyer mobility; and now a cloud delivery option providing additional flexibility, cost control and security measures. Used by over 100,000 professionals across four continents, Tikit Carpe Diem time recording suite has been designed to enable lawyers to seamlessly capture […]

In a Regional Town All Practictioners Jump Onto E-Conveyancing

Every Mudgee lawyer and conveyancer is now an electronic conveyancing member If you want to go far go with others build a network. That’s exactly what’s happening in Mudgee, NSW. Every one of the town’s legal and conveyancing practices have joined Property Exchange Australia (PEXA). Paula Sutherland from Richard Wise Solicitor (PS) and Toni Althofer, Lime Conveyancing (TA) explain how e-Conveyancing can cut costs, free up time once spent travelling to settlements and delight customers. Well done for taking your transactions into the digital age.  How did you find the experience? TA: Very smooth and easy.  Theresa Ting, my PEXA Virtual Specialist […]

In A Regional Town All Practitioners Jump Onto E-Conveyancing

Every Mudgee lawyer and conveyancer is now an electronic conveyancing member If you want to go far go with others build a network. That’s exactly what’s happening in Mudgee, NSW. Every one of the town’s legal and conveyancing practices have joined Property Exchange Australia (PEXA). Paula Sutherland from Richard Wise Solicitor (PS) and Toni Althofer, Lime Conveyancing (TA) explain how e-Conveyancing can cut costs, free up time once spent travelling to settlements and delight customers.  Well done for taking your transactions into the digital age.  How did you find the experience? TA: Very smooth and easy.  Theresa Ting, my PEXA Virtual Specialist was very helpful […]