The NSW government’s plans to privatise the profitable land titles registry have been condemned by lawyers, surveyors and real estate agents at a forum convened by Shadow Minister for Finance, Services and Property Clayton Barr earlier last week.
NSW Premier Gladys Berejiklian is planning to lease the part of the Land and Property Information service (LPI) that deals with defining land boundaries and keeping property records to a private company for 35 years.
But experts say it’s a stupid move that will undermine the integrity of the system, push costs up for house buyers and sellers and decimate the LPI’s skilled workforce.
Don Grant, who was Surveyor General of NSW from 1986 to 2000, said the LPI underpinned the NSW property system and the integrity of the state’s land titles registry, which gave the public confidence.
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This article first appeared in sister publication, Government News.