[1]Andrew Lloyd, managing director of Search Acumen [1], comments on today’s Autumn Statement and the Government’s intention to consult over options to privatise Land Registry operations from 2017:
“Any move to privatise Land Registry operations must not be allowed to put barriers in the way of access to property and land data, which is vital to understanding the market and improving its performance.
“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.
“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.”