Special Reviews
Electronic Conveyancing

Review of pricing regulation of Electronic Conveyancing Network Operators in NSW

Status
Consultation
Start Date
Oct 2018
End Date
Jun 2019
20
Days left for submissions
Deadline: 4 Dec 2018
Have your say
What

The Premier has asked IPART to review the pricing regulation of Electronic Conveyancing (eConveyancing) Network Operators in NSW, including the maximum prices Property Exchange Australia (PEXA) can charge for its services from 1 July 2019.

Why

Both paper and electronic conveyancing services currently operate in NSW.  However, from 1 July 2019, all mainstream property dealings will be electronic.

PEXA is currently the sole Electronic Lodgment Network Operator (ELNO) in NSW.

The review is to ensure the regulatory settings and fees charged for the provision of eConveyancing services are fair and transparent for all parties.

How

We will conduct a public consultation process and our own research and analysis.  We will consider amongst other things:

  • the current state of competition in the eConveyancing market, including the current pricing framework
  • an appropriate pricing framework for the new eConveyancing regime
  • the relevance of additional ELNOs potentially entering the market and how this should be reflected in the pricing framework
  • PEXA’s capital investment to support its Electronic Lodgment Network in its capacity as the initial and currently sole ELNO, and
  • any other matters we consider relevant.

In making our decisions, we will consider the protection of consumers and impacts from the new eConveyancing regime.

What Next

We invite feedback from interested stakeholders on the draft Terms of Reference for this review.  Submissions on the draft Terms of Reference are due by 4 December 2018.

Stakeholders will have an opportunity to provide input to our review through attending a Public Hearing and providing submissions to our Draft Report.  We will consider all stakeholder feedback before we complete our Final Report.

Key Contact
Jennifer Vincent
Email
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IPART routinely seeks public input into our reviews via submissions, public hearings, stakeholder workshops and community surveys.
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