PEXA completes national rollout with Northern Territory launch
PEXA has announced the launch of its digital property settlement platform in the Northern Territory, completing its coverage across all Australian states and territories.
The expansion into the Northern Territory coincides with PEXA surpassing AUD $1 trillion in Australian property transactions processed annually through its platform for the first time. This figure represents the combined value of property settlements for Australian home buyers and sellers in the financial year 2025.
Milestone reached
The company's latest milestone comes after a period of targeted national growth, most recently marked by a rollout in Tasmania. These developments have contributed significantly to reaching the trillion-dollar transaction benchmark, underlining a broader shift toward digital property settlements in Australia.
Since its launch in 2013, PEXA has facilitated over AUD $5 trillion in property settlements, connecting more than 10,000 legal practitioners and 160 financial, government, and statutory bodies nationwide.
"Today represents the fulfillment of PEXA's promise to Australia - a truly national, digital property settlement solution," said PEXA CEO Russell Cohen. "Being entrusted to facilitate and protect AUD $1 trillion worth of Australian property transactions each year demonstrates how integral digital settlements have become to Australia's property ecosystem."
The company's entry into the Northern Territory begins with services for digital mortgages, mortgage discharge, and refinancing. Functionality for Sale & Purchase settlements is expected to launch in the next twelve months, as part of PEXA's stated ambition for 100% digital transactions in the Northern Territory by the end of 2026.
Adoption in the Territory
According to PEXA, major lenders and government organisations in the Northern Territory have already joined the Exchange. This move signals a notable shift from manual, paper-based processes, which could take several weeks, to an electronic process completed within minutes.
The adoption of digital property settlement is expected to provide a range of administrative efficiencies for financial institutions, legal practitioners, and property owners in the Territory. PEXA's model is designed to deliver a faster and more secure alternative to traditional paper-based settlement methods.
Network across Australia
PEXA's network now links professionals across every state and both territories in Australia. The company reports that it currently reaches 89% of the national property settlement market and has processed more than 20 million property settlements in Australia to date. PEXA also launched in the United Kingdom in 2022, expanding its digital property exchange services internationally.
The shift from paper-based to digital settlements reflects broader trends within the property sector towards streamlining processes, reducing transaction times, and providing greater security for participants. The company stated that the completion of its national coverage is a step towards realising its vision of seamless digital property transactions across the country.
