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Autumn Statement: Govt to consult on future of Land Registry

  • 25/11/2015
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Autumn Statement: Govt to consult on future of Land Registry
The government will consult on how to privatise the Land Registry from 2017, the Treasury has confirmed.

The Autumn Statement and Spending Review document reaffirmed reports published last week that the government could revisit plans to privatise the state-owned organisation in a £1bn-plus deal.

Plans to partially or fully privatise the Land Registry were abandoned in July last year after consulting in early 2014.

Andrew Lloyd, managing director of Search Acumen said any move to privatise the Land Registry should not put barriers in the way of open access to property and land data.

“Today’s housebuilding pledges will grab plenty of attention, but it is also in the public interest for the industry to make better use of property data. Consumers, conveyancers and other professionals can all benefit from greater availability of information from Land Registry, which has the potential to transform the property buying process that exists today,” he said.

“This year’s Infrastructure Act set the wheels in motion for Land Registry to improve data access, standardise fees, achieve better turnaround times and explore new services to benefit conveyancing and the wider property sector. This mission should be applauded, and must not be compromised by the desire to make a short-term profit from an organisation that already generates a surplus for the Treasury. Now is not the time to pull the rug out from under Land Registry’s feet.”

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