Threats and opportunities in a free market
The switch to eConveyancing will apply to mortgages to begin with, followed by caveats in January and full transfers in August 2026.
Six MPs on the Legislative Council aired their views about the ongoing issues impacting the sector.
President Juliana Warner's submission into competition in eConveyancing highlights the council’s frustrations over the implementation of interoperability.
Leading conveyancers whose firms are involved in billions of dollars of transactions are calling for progress in ELNO competition reform.
ARNECC set to meet to discuss the future of interoperability reform following a review by the Queensland government.
Australia’s competition watchdog will not get directly involved in a stalemate that threatens to delay opening up the eConveyancing platform to competitors, as it’s not the relevant regulator.
For the past decade, conveyancers have used digital provider, PEXA to settle properties on behalf of home buyers and sellers. PEXA operates as a monopoly. A regulator has been established to promote a competitive environment that drives efficiencies, cost-savings and innovation in the e-settlement space.
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