Impact of e-Conveyancing on the conveyancing industry

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Impact of e-Conveyancing on the conveyancing industry

Generating $89 million in net benefits

In two reports for PEXA, Deloitte Access Economics and Monitor Deloitte have analysed the current experiences of practitioners using an electronic conveyancing system and estimated the potential benefits to the industry under a 100% digital process.

Impact of e-Conveyancing on the conveyancing industry

The conveyancing industry is undergoing a digital transformation with the national roll-out of an e-conveyancing system. This system allows practitioners, financial institutions, and government bodies to lodge documents and complete settlements electronically. This is part of a broader digital transformation underway in the Australian economy.

Deloitte Access Economics was engaged by Property Exchange Australia (PEXA) to analyse the current experiences of practitioners using the electronic conveyancing system, and estimate the potential benefits to the industry under a 100% digital lodgement and settlement process.

This report analyses the impacts of electronic conveyancing as the industry undergoes digital transformation:

  • Practitioners only realised an estimated $3 million in benefits in 2016-17
  • Transition costs of around $0.7 million and a take-up rate of 2% means that some practitioners are not fully realising these benefits
  • The industry is likely to experience around $89 million in net benefits from a 100% digital lodgement and settlement process in 2021-22.
Impact of e-Conveyancing on the conveyancing industry

The future of the Australian conveyancing industry 2025 and 2030

This report follows on from Electronic settlement and lodgement for conveyancing: Benefits to the conveyancing industry  which forecasted the impact of digitisation of lodgement and settlement in the conveyancing industry between 2018 and 2022. This report, lead authored by Monitor Deloitte, lays out predictions for four potential futures that could emerge from 2022, with a medium term focus on 2025 and long term focus on 2030. These potential futures outline what a digitised conveyancing industry may look like for customers (buyers and sellers of property) and practitioners.

Published: October 2018

The future of the Australian conveyancing industry 2025 and 2030
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