Property Exchange Australia Limited (originally known as National e-Conveyancing Development Limited) was formed in 2010 to fulfil a Council of Australian Governments (COAG) agenda item to deliver a national electronic conveyancing solution to the Australian property industry.
Property Exchange Australia Ltd is a company limited by shares with the key financial stakeholders being the VIC, NSW, QLD and WA Governments as well as a number of Australia’s largest Financial Institutions. Like the ASX did for the exchange of shares, PEXA removes the manual processes and paperwork associated with the exchange of property by allowing Land Registries, Financial Institutions and Practitioners to transact together, online, for the very first time.
With more than 1 million property transactions considered “in scope” each year, the unique PEXA platform will provide tangible time and cost efficiencies to the conveyancing industry by reducing the time spent preparing instruments, removing the need to physically attend settlement and using technology to greatly reduce the prevalence of errors and failures in land transactions. For Practitioners, this means the ability to provide savings to their customers through a direct reduction in costs due to the increased efficiency of their service provision.
What PEXA is:
- A national property exchange
- An unlisted public company with commercial focus
- Owner of all previous e-Conveyancing IP
- Open to all States/Territories, Financial Institutions and Practitioners to adopt
- Pursuing a strategy of alignment with data and software providers
Who owns PEXA?
PEXA is owned by Property Exchange Australia Ltd – a company limited by shares with key stakeholders including:
- Victorian, New South Wales, Queensland and Western Australia Governments
- The four Major Banks
- Macquarie Capital
- Little Group
- Link Group
Property Exchange Australia Ltd owns PEXA, which is the online network that connects property professionals and enables them to transact in the digital space.