New South Wales, Victoria and Queensland will are also to be given leading roles in making the single national e-conveyancing system (NECS) operational from 2010. Cost savings of Au$170 per average conveyancing transaction are projected, stemming from process efficiencies such as less data entry and document preparation, settlement and lodgment savings, courier and bank cheque savings, and lower process administration costs generally.
E-conveyancing in Victoria (ECV) has cost over Au$50m to build and has produced only one transaction, leading to much political bickering, which is unlikely to die down as many more millions are expected to be spent over the next few years on project management, business operations, user acceptance testers and the roll-out team that will train potential users and provide support.
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