Australia’s electronic conveyancing regulator has paused its data interoperability reforms aimed at breaking the market dominance of Property Exchange Australia (PEXA), which currently controls 90 per cent of the market.
The interoperability program had aimed to compel PEXA to enable full compatibility and data interoperability with the services of challenger service Sympli by the end of 2025.
Despite interoperability efforts running for more than three years, both PEXA and Sympli have issued statements confirming that the Australian Registrars National Electronic Conveyancing Council (ARNECC) has paused the program.
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