PROPERTY NOW - A note from Glenn King

A note from Glenn King, PEXA CEO

Welcome to the first edition of Property Now – a new monthly magazine, curated especially for you. Working closely with experts and leaders within our sector and beyond, each edition will deliver thought-provoking insights on the property market, the latest innovations and technologies you can expect from PEXA and other market participants and of course, practical coverage of legislative and regulatory changes that may have impact on your business.

We want this to be of value to you; a magazine that informs and excites while giving you easy access to the things you need and want to know.

It would be remiss of me not to acknowledge the year we’ve all found ourselves having. With the onset of COVID-19 I think it’s fair to say we were all concerned with the potential impacts on the property sector. Pleasingly, the floor did not drop out of the market and while we’re still in the thick of it, there’s a lot to be positive about as we head into this new financial year. Read all about that and more in our inaugural edition.

Being a magazine for you, we’d love your feedback and contributions. If you have a suggestion for story ideas or would like to contribute, please email: industry@pexa.com.au. Until then, take care.

Glenn King PEXA CEO

Glenn King, CEO - PEXA

Around the grounds

New South Wales and ACT

More than 90% of all dealings are available to be processed electronically in NSW, with the COVID-19 Residual Lodgement solution enabling the delivery of those outstanding via PEXA. We’re continuing to work closely with all parties to progress to 100% digital and will update industry accordingly. Additionally, a September go-live is being targeted for the introduction of digital settlements in the ACT. Keep an eye out for more details on training, on-boarding and support.

Victoria

PEXA is collaborating with Land Use Victoria and Victoria Land Registry Services to consolidate the digitisation of remaining out-of-scope documents. Currently, 97% of all dealings in the state can be completed electronically. In support of industry during COVID-19, a solution to facilitate lodgement of scanned paper dealings via PEXA remains available – as we navigate the current restrictions in place.

Queensland

There was a 44% increase in digital property settlements month-on-month in Queensland – with momentum continuing to build.

Our on-the-ground, local team is here to assist PEXA members old and new in the months ahead – with technology playing a defining role in this. Find out more about how we’re supporting the Queensland network here.

Western Australia

June saw a 21% increase month-onmonth in digital property settlements in WA and in a further positive sign for industry, REIWA reported that its June data showed the strongest month for sales in Perth since 2015.

Meanwhile, PropertyX 2020 Connect, PEXA’s premier virtual event series, is coming to WA! We’d love to see you join us for our 28 July industry conference, featuring the latest property market insights, industry news, cyber-security guidance, the PEXA roadmap and a panel session featuring guests from the AICWA, UDIA WA and CBA.

South Australia

We’ve seen strong progress in the SA market over recent months as industry prepares for its transition to fully digital property transactions on 3 August. We’re pleased to report 80% of all settlements during June were completed electronically in the state. Ahead of this milestone, PEXA was joined by the Office of the Registrar General, Land Services SA and Revenue SA to answer the market’s questions in a collaborative Q&A. Catch up on all the responses here.