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In 2018, PEXA – Australia’s online property exchange, which assists members such as lawyer, conveyancers and financial institutions to lodge documents with Land Registries and complete financial settlements electronically – was acquired by via a joint bid from Link Administration Holdings Limited, Morgan Stanley Infrastructure Partners and CBA.
This meant that CBA – one of the largest mortgage lenders – now also had a significant interest in Australia’s property settlement and transfer system.
Previously, PEXA was owned by state governments, the major banks, Rich Lister Paul Little, Link Group and Macquarie Group.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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