Government opts for partial sale of Landgate.
Nick Evans The West Australian
Wednesday, 27 June 2018 12:16PM
Transport Minister Rita Saffioti Picture: The West Australian, Simon Santi The West Australian
The State Government will sell off the profitable arm of WA’s land titles registry, but says it will not fully privatise Landgate.
Lands Minister Rita Saffioti announced today Landgate’s “automated registry services” would be put on the market, but its statutory functions, and other services, would be retained by the State Government.
It is understood the move will see the right to run property searches sent out to the private sector under a 50 year leasing deal, as well as automated property transfers – which make up about 90 per cent of title transfers in WA. But the underlying property data will remain the property of the State Government and Landgate staff have been told they are not likely to see further job losses as a result of the arrangement.
In a statement Treasurer Ben Wyatt said the Government would “retain ownership and oversight of the land titles register, and Landgate itself will continue to function as a statutory authority”.
The State Government hopes to get at least $650 million for the sale of the rights, saying the money will be used to fund a redress scheme for the victims of institutional sexual abuse.
Mr Wyatt said the Government would seek to cap charges for services sold by a private operator to the inflation rate plus 1 per cent.
Ms Saffioti said the Government will “will retain ownership and statutory responsibility for our land titles register, ensuring the security and integrity of the State’s vital data asset”.