The State Government has begun plans to privatise the Land Titles Registry, meaning homes in the Hunter could end up costing $900.00 more in fees or insurance.
The government currently makes $50-million per annum from the registry, but plans to lease it registry for 35 years for $700-million.
NSW President of the Institution of Surveyors Michael Green says they'll be no competition if the registry goes to the private sector.
"If they go ahead with this concession, as they call it, to the private sector, they're actually putting a monopoly into private hands - there's no competitor for this. The state government is going to set up what they call a regulator. But we saw what happened with Ausgrid when they wanted to put the prices of gas up, they just took the regulator to court and got an increase of 10 per cent," he said.
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| The Land Titles Office In Sydney |
