The PSA continues to fight against the NSW Government’s short-sighted decision to sell off the titling and registry functions of Land and Property Information (LPI).
Last week saw a massive boost to the anti-LPI privatisation campaign with The Sydney Morning Herald outlining the leaked draft contract for the sale. This leaked document confirms that the private operator will be able to provide “core services” from an “approved location” which is “outside NSW”. You can read the article HERE. You can view further articles HERE and HERE.
Land and Property Information currently earns a massive $130 millon per year for the people of NSW. This would equate to more than $4.5 BILLION over the term of the 35-year ‘lease’. The Government hopes to raise just $2 billion from the sale, and will use the proceeds to knock down and rebuild sporting stadiums in Sydney. How this privatisation will benefit anyone, let alone people living outside of Sydney, is yet to be answered.
In addition to the pure monetary negatives, the privatisation of LPI will also:
The PSA is working with a variety of stakeholders, including peak bodies representing thousands of lawyers, real estate agents and surveyors, in order to highlight to the people of NSW the value of LPI and the reckless decision by the Berejiklian Government to privatise it. These co-ordinated efforts have resulted in traditional conservative voices such as Ray Hadley and Alan Jones recently coming out against the sale.