When PEXA (ASX: PXA), the online property exchange, floated in July 2021, we wondered if things were as good as they’d get. We may have only been out by six months.
The total number of property transfers in Australia peaked at 1.7 million in the December half of 2021 and were down by 20% in the same period in 2022. To be fair, PEXA’s share of those transfers increased from 80% to 88%, but that’s more a reflection of the ongoing shift from paperbased to electronic conveyancing, where it continues to be the only game in town (although more
