The national competition regulator has been urged to monitor the electronic conveyancing market by the NSW Productivity and Equality Commission, as federal assistant minister for competition Andrew Leigh called dominant market player PEXA a “textbook monopolist”.
In a report published on Monday, the NSW government’s productivity agency argued that the Australian Competition and Consumer Commission (ACCC) should “immediately conduct a comprehensive review” of eConveyancing pricing due to PEXA’s high profits.
It also included other recommendations that outline how the ACCC should monitor the eConveyancing market on an ongoing basis, including through the establishment of a new Digital Platforms Regulation Branch.
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