NSW GOVERNMENT plans to privatise the lands titles office “could genuinely put the homes and land we own under an unnecessary risk”, according to an Albury surveyor.
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Charles Fransen, a director of the Institution of Surveyors NSW, said the changes could increase upfront costs and harm the integrity of the titles system but the general public remained largely unaware.
“Everyone that I’ve spoken to about it is shocked and opposed and I’m concerned they’re getting it through on the fact that basically nobody knows about it,” he said.
But the NSW Treasury said Land and Property Information (LPI) was not being sold, but would be run by the private sector under a 35-year concession.
Treasurer Dominic Perrottet said the reform aimed to provide a quality service now and in the future.
“We will continue to have a world class system, but with the benefit of huge improvements in the service LPI provides and the technology it invests in to better serve the people of NSW,” he said.
Mr Fransen said the present titles system was “the envy all over the world”.
“When most people buy land in Australia, they do less checks than when they buy a car,” he said.
“It’s easy and when you purchase your title, you’ve got confidence.”
He felt the proposed changes would make title insurance necessary where it hadn’t been before.
“Every time you purchase a block of land I’ve heard quotes of anything between $1000 and $4000 for title insurance is going to be an upfront cost,” Mr Fransen said.
Mr Perrottet said the government had capped price increases for regulated services at the consumer price index.
“Speculation about the integrity of the titling system is completely unfounded,” he said. “The government will have stringent safeguards and close oversight of operations under the new model.”
Mr Fransen has written to Member for Albury Greg Aplin about his concerns, with Mr Aplin seeking a response from the Finance Minister.
The surveyor hoped public pressure would persuade the government to change its mind before a final decision.
“Once a private operator steps in, budgets are cut, staff levels shrink and service levels deteriorate,” Mr Fransen wrote to Mr Aplin.
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