Public Service Association concerns about the privatization of the Land Titles Registry

As the battle over the government’s plan to privatise the New South Wales land registry service intensifies, a leaked study also shows that the service is far more valuable than was originally expected. “The bidders and the value they see are starkly different now. Before, Macquarie suggested data companies such as Veda and RP Data may pay up to $440 million. Now, ‘powerhouse consortiums’ are expected to offer as much $2 billion, according to the Australia Financial Review. (…) Property developers, real estate agents and surveyors say it doesn't make sense to privatize a world-leading, corrupt-free, efficient and innovative system that turns over $50 million profit a year.” Pressure from the Public Service Association and its serious concerns about the privatization of the Land Titles Registry has forced NSW Premier Mike Baird to try and justify the sell off, but PSA says “his arguments were anything but convincing.”