NSW customers can access e-options at any stage of the property cycle, for example transferring an interest, changing by-laws, electronic leases, alterations to easements, notice of death and mortgage variations.
In 2017 when NSW Land Registry Services started operations, only seven per cent of documents were eligible for online lodgment. The vast majority of transactions were handled in paper.
Following an investment of more than $10 million in eConveyancing since 2017, a NSW Land Registry Services team of more than 30 experts across eConveyancing, digital transformation, dealings, lodgement office, IT and legal have made digitalisation a reality.
The project to enable 100 per cent electronic lodgment saw NSW LRS working with the NSW Office of the Registrar General and Electronic Lodgment Network Operator, PEXA, to make NSW the most digitally advanced state when it comes to property transactions.
NSW Land Registry Services CEO, Adam Bennett, said NSW LRS is committed to digital innovation and bringing customers the technology to conduct property transactions more efficiently online.
“Our team of experts has worked hard to bring the benefits of eConveyancing to NSW customers and property practitioners.
“The NSW property industry can now access the competitive advantage electronic lodgment brings, including time saving, instant listing and faster transactions,” he said.
During Covid-19, NSW accelerated its digital roadmap to ensure property transactions could be completed online. The success of these measures is evidenced by strong transaction volumes during the past 12 months.
Fast Facts
- More than 98% of property transactions in NSW are now settled online.
- Approximately 800,000 dealings per annum are now registered on the Land Titles Register instantaneously. The registration process used to take 2 business days on paper. Strict checks maintain the integrity of the register.
- NSW LRS used to process up to 10,000 pieces of paper every day. That number is now 500-1000 papers items per day.
- NSW LRS issues requisitions (changes required) to approximately 3% of paper dealings, that is 30,000 transaction requiring re-work by the customer each year. Requisition for electronically lodged dealings are 0.01%.
- To date, almost 6000 practitioners have registered to become eConveyancing subscribers in New South Wales.
- Historical fact - the entire Ground Floor of the historic NSW LRS Queen’s Square office was dedicated to teams processing paper lodgements, examinations, re-lodgements and customer enquiries prior to registration and digitalisation for public record.
Customer enquiries
For specific queries about eConveyancing please contact the team at
eConveyancingNSW@nswlrs.com.au.
Getting in touch with NSW Land Registry Services is easy. Call us on (02) 8776 3575,
contact us online or visit
www.nswlrs.com.au