Aftermarket, PEXA Group Ltd (ASX: PXA) announced its third quarter result. The ASX-listed property exchange business increased total exchange transaction volumes by 7.3%, while holding Australian property transactions steady despite market uncertainty.
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What did PEXA report?
- Total exchange transaction volumes rose to 935,000 in 3Q26, up 7.3% year-on-year.
- Australian transfer volumes reached 588,000 (+7.1%), while refinance volumes grew 7.9% to 218,000, accounting for 23% of activity.
- PEXA maintained 90% national market penetration in Australia.
- UK remortgage completion volumes grew: Optima Legal up 10% and Smoove up 13% on the prior comparable period.
- Group core NPAT guidance for FY26 reaffirmed at the top end of the $15m–$25m range.
- Exchange customer satisfaction improved to 89.7% (from 87.9% in 2Q26).
What else do investors need to know?
PEXA launched its new anti-money laundering solution, PEXA Clear, in Australia ahead of regulatory changes coming in July 2026. The group also reported greater refinance activity in the Northern Territory following its recent expansion there.
In the UK, NatWest successfully completed its first remortgage on the PEXA platform in March, and PEXA was chosen to participate in the Bank of England Synchronisation Lab to develop efficient end-to-end property transaction solutions.
Guidance for FY26 has been reaffirmed, with revenue expected between $395 million and $415 million, and a group EBITDA margin of 34%–37%. International operations remain a focus, with operating cash outflow guidance of $59 million to $63 million.
What did PEXA management say?
CEO & Group Managing Director Russell Cohen said:
We delivered strong performance in the third quarter of FY26 across both Australia and the UK. In Australia, property transaction volumes remained resilient, growing 7% versus the prior year despite market uncertainty and rising interest rates. UK market growth moderated from the first half, with macroeconomic uncertainty impacting volumes in the quarter. Another quarter of robust operational performance and disciplined cost management has positioned us to deliver performance towards the top end of our FY26 NPAT guidance range.
What's next for PEXA?
PEXA is preparing for the upcoming anti-money laundering legislation in Australia and continues to work with regulators on industry pricing. Internationally, the company is pursuing further adoption among UK lenders and conveyancers and is participating in innovation initiatives such as the Bank of England Synchronisation Lab.
Looking ahead, PEXA expects continued recovery in property transaction volumes, with targeted growth opportunities in both Australia and the UK underpinned by its digital solutions.
PEXA share price snapshot
Over the past 12 months, Pexa shares have risen 6%, slightly trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.
