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Australia's e-conveyancing market 'not effectively competitive,' report says

( July 1, 2024, 04:36 GMT | Official Statement) -- MLex Summary: Australia’s market for electronic property transactions — known as e-conveyancing — is ‘not effectively competitive’ and should be regulated by the country’s antitrust watchdog, according to a report released today. In a statement, the state-based New South Wales Productivity Commission said its inquiry into Australia’s e-conveyancing market found it was dominated by one entrenched player, PEXA, to the detriment of Australian consumers looking to buy and sell property. The e-conveyancing marketing exhibited strong network effects, making it difficult for competitors to get a foothold, the report said.The full statement from the New South Wales Productivity Commission follows; the full report is attached....

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