Streamlining property transactions
Thursday 21 April 2016
Cutting edge technology is set to make property transactions easier, according to Land Information New Zealand (LINZ).
By The Landlord
Land Information Minister Louise Upston said New Zealanders buy and sell houses, subdivide land and build new houses every day.
In fact, LINZ processes more than 3.5 million transactions and property information searches a year.
But the current system is outdated and needs to be replaced as it no longer reflects the way LINZ’s customers work, Upston said.
For this reason, a new online system – Advanced Survey and Title Services (ASaTS) – is being implemented.
It will streamline property transactions, while ensuring the costs and time involved remain low, she said.
“It will also give us the ability to link property information held across central and local government, like ratings valuations and titles.
“This function is essential to the government’s work towards Integrated Property Services, which will make it easier and quicker for property owners, builders and developers to get what they need.”
Improvements include a search function, which allows property buyers to get title information without specialist help, and a higher degree of interactivity for surveyors and conveyancers.
More information about ASaTS is available here.
Comments from our readers
No comments yet
Sign In / Register to add your comment
National property values continue to fall with the rate of annual growth dropping from 3.8% in June 2018 to 1.7% in June 2019, the latest REINZ House Price Index reveals.
Flexible working spaces are more than just a fleeting trend and the launch of a new co-working serviced office franchise programme will open up the market to investors.
LVR restrictions on mortgage lending could be a "permanent setting", according to Reserve Bank deputy governor Geoff Bascand.