Personal Legal Services in Australia - Industry Market Research Report

Legally bound: External competition and reduced housing transfers have reduced revenue

Personal Legal Services in Australia

Legal practitioners in the Personal Legal Services industry service individuals and households across Australia. The industry's primary services relate to personal injury law, family law and property law. Class action lawsuits have increased in popularity over the past five years, providing the industry with an opportunity to expand. Rises in the mortality rate and number of divorces have supported the industry over the period, increasing demand for services relating to family law and wills, estates and probates. However, restrictions related to the COVID-19 pandemic have contributed to falling work and vehicle accident rates, subsequently reducing industry demand over the past three years. Industry revenue is expected to grow at an annualised 0.2% over the five years through 2021-22, to total $7.5 billion.

Legal practitioners in the Personal Legal Services industry (i.e. lawyers or attorneys) advise and represent individuals. Significant areas of practice include matters of personal injury law, family law, property law, class actions and wills and probates.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.