The 2014 Australian Transport Pricing Report details market factors, trends and other matters relevant to the pricing of legal services as well as recorded and suggested pricing levels. It is compiled on the back of feedback from both solicitors practising within these areas and client referees.
Australia’s transport lawyers have been relatively less affected by the apparent demand for alternative pricing and other associated pricing pressures. The most commonly suggested reason for this was the absence of many of the traditional “top-tier” firms in the area, the strong historical role played by the mid-tier firms and the fact that many of the international firms who have entered this market understood the pricing levels already existing in the area.
As is the case with the majority of insurance related work strict panel arrangements make pricing on a per matter basis less relevant and remove various pricing dynamics outside of panels being re-assessed. In this regard local firms attested to the fact that the arrival of international firms resulting in them feeling less pricing pressure and comparatively more affordable and “valuable” than they previous did. We would suggest that while this dynamic does exist to an extent that it does so far less than for other areas such as finance, corporate and litigation.
Pricing in relation to non-insurance related work varies substantially with many practitioners noting an increased trend towards rate-sensitive fixed pricing on discrete or less timely matters while conversely noting that clients were completely comfortable with healthy hourly rate levels for urgent matters.
Melbourne Family & Divorce Lawyers - Alternative Pricing Usage
Method Market Share Use 21% Fixed Price 55% Capped Fees 9% Stage-Based 47% Retainer 0%