A limited pool of market participants and price sensitivity in other related areas (i.e property & construction) sees Queensland’s banking and finance lawyers as presenting particularly good value. More to the point if it’s a fixed price you’re looking for then all of Queensland’s banking and finance lawyers are happy to offer it, or cap a fee, basically… clients can pretty much nominate they type of fee they want.
Where there’s competition there’s keenly competitive hourly rates. 22% of the Queensland market positions a rack rate between $400-$500 per hour and 49% sit within the $500-$600 per hour bracket (the majority sitting at the lower part of such).
Although 29% of the market sit above $600-$700 per hour, anecdotally these rates are all but an illusion with discounts of at least 25% or more taken into account when submitting fee estimates.
In short, the market’s leading firms dominate and will only be beaten on price when they choose.