This article is from the Australian Property Journal archive
THE South Australian government is expected to pocket between $300 – $400 million from the sale of the Land Services and Land Titles Office to a private operator.
Treasurer Tom Koutsantonis confirmed the sale in the state budget yesterday and said the private sector would be given the right to utilise data related to property transactions and valuations on a 40-year contract.
Koutsantonis said he expects the bidding process will generate strong interest from potential purchasers.
“The private sector is very well equipped to deliver lands title registry functions like the processing of mortgages and other documents and to provide valuation services.
“People buying and selling property who use the Lands Services will notice little difference once the transaction has occurred,” he said.
Australian Property Journal
