IPART has released draft recommendations as part of its review into the fees Electronic Lodgment Network Operators (ELNOs) may charge for eConveyancing services.
As part of its review, IPART has been asked to investigate and make recommendations on:
- whether the service fees ELNOs charge should be regulated
- if so, whether a regulated method or level of price should apply, what this should be and when this should apply
- future adjustment and review processes for ELNO service fees.
Tribunal member Sharon Henrick said ELNOs provide the digital platforms used to complete property transactions, including lodgment, settlement and registration.
“The most common transactions are property transfers (usually when a property is sold) and refinances (when a property owner changes its mortgage provider). Only 2 operators currently provide these services in Australia, Property Exchange Australia (PEXA) and Sympli,” Ms Henrick said.
“PEXA’s market share is about 99%. We found little evidence that Sympli acts as a competitive constraint on PEXA.
“Since we last reviewed prices, eConveyancing has become mandatory for most property transactions across Australia and the number of transactions has grown. However, the eConveyancing market has remained highly concentrated.
“With interoperability reforms not proceeding at this time, the market is likely to remain concentrated. Because of this, we propose that PEXA’s ELNO service fees continue to be regulated.”
Ms Henrick said under IPART’s draft recommendations, transfer fees, including single and multiple title transfers, with and without financial settlement, would fall, while most other ELNO service fees would stay the same in real terms.
“PEXA’s transfer fees are its highest fees. They do not appear to be aligned with the costs of providing the transfer services,” Ms Henrick said.
IPART is also proposing nationally consistent ELNO service fees for PEXA, so that subscribers pay the same fees regardless of where they are in Australia.
IPART invites stakeholders to read the Draft Report and make a submission via our website by 14 August 2026. An online Public Hearing will be held on 21 July 2026, with a final report to the Minister expected in September. See website.
Media Contact: Mark O’Brien, 0427 105 865, media@ipart.nsw.gov.au.