Australia's ACCC defends PEXA's $800b electronic property settlements monopoly amid claims of overpriced transactions and potential data dominance.
The ACCC defends Australia's $800b electronic property settlements monopoly amid claims homeowners pay too much for property transactions and mortgage refinancing. Concerns arise as the Commonwealth Bank-backed PEXA, Australia's sole e-conveyancing operator, could potentially dominate downstream services like Facebook and Google due to the valuable data it collects. PEXA holds over 88% of the property transaction market.
July 07, 2024
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