PEXA transaction volume drops 11.5% in Q1 FY27
By Liezl GambeKey points
- Total property transaction volumes handled by PEXA dropped 11.5% to 934,000 across the September quarter.
- Higher interest rates and softening property prices led property transfers to fall 15.2% during the quarter.
- The company is focusing on strict cost control while expanding digital settlement operations into the United Kingdom.
PEXA Group (ASX:PXA) recorded an 11.5% drop in Australian exchange transaction volumes to 934,000 for the first quarter of FY27.
The volume decline reflects a drop from the 1,055,000 transactions handled during the prior comparative period in Q1 FY26.
“In Australia, consecutive interest rate rises and falling property prices are weighing on buyer confidence and transfer volumes,” said PEXA CEO and Group Managing Director Russell Cohen.
Property transfer volumes fell 15.2% to 566,000, while refinancing activity declined 6.4% to 233,000 transactions.
Following the announcement, the PEXA Group share price was up at $7.39.
PEXA maintained a 90% national penetration rate as Tasmanian operations expanded following the phaseout of paper land titles.
The company stated that it plans to process its first UK sale and purchase transaction with NatWest in March 2027.
