PEXA Group has reported a strong start to the financial year, with total property transaction volumes increasing by 6 per cent to 1.05 million in the first quarter, ending in September. This growth was primarily fuelled by robust refinancing activity and improved market conditions in the United Kingdom. PEXA is an Australian technology company that facilitates online property transactions. It operates a digital property exchange platform, streamlining the conveyancing process for lawyers, conveyancers, and financial institutions.
Specifically, property transfers saw a 3 per cent increase, while refinances experienced a more significant jump of 16 per cent. The boost in refinancing activity was supported by consecutive interest rate cuts by the Reserve Bank of Australia in July and August. The company maintained a 90 per cent market penetration in Australia and successfully completed the rollout of its refinance product in the Northern Territory.
PEXA’s chief executive officer, Russell Cohen, stated that the company is effectively executing its FY26 strategy. He also reaffirmed the company’s full-year guidance, projecting revenue to fall between $405 million and $430 million, and net profit after tax (NPAT) to be in the range of $5 million to $15 million.
The company’s UK operations also demonstrated positive momentum, with Optima Legal and Smoove reporting remortgage completion increases of 32 per cent and 22 per cent respectively.
