The Government's plan to offload part of property and land data agency Landgate is expected to generate at least $650 million in revenue.
If the sale proceeds, WA will be following in the footsteps of New South Wales and South Australia, and Victoria is preparing to do the same.
But how will WA property owners be affected? This is what is proposed so far.
What is Landgate?
Landgate, otherwise known as the Western Australian Land Information Authority, is the agency responsible for all property and land data in WA.
Essentially, it manages data critical for property transactions — land titles, valuations and property sales reports, as well as maps and aerial images.
That database is accessible — for a fee — to members of the public and industry.
When a property is sold, the land titles register is updated. In 40 per cent of sales, the register is updated automatically.
What is being sold?
The Government has decided to lease Landgate's automated land title service, called Advara, as well as its property search function for 40 to 50 years.
It will still own, and have oversight of, the Land Titles Register, in contrast to similar privatisations in other states.
Land valuations, geographic information and manual processing of land titles will still be managed by Landgate.
What impact will it have on prices and privacy?
Under the terms of the sale, price increases will be capped at the consumer price index (CPI) plus one percentage point.
That means that if Advara is sold, the new owner will be permitted to lift prices by a maximum of 2.5 per cent next financial year.
As to the issue of privacy, the Government has not released any details but says protections will be maintained.
Other states have sold their land title agencies. What happened there?
New South Wales leased its land titles registry for $2.6 billion in April last year, while South Australia followed suit in August with a $1.6 billion lease.
Victoria is also in the process of selling off its land titles registry.
NSW has come under fire for allowing price hikes for some services following privatisation, but the WA Government says those increases were the result of hikes to wholesale prices prior to the sale.
The Government says it intends to follow the South Australian model and will not increase fees in the same way.
How is WA different?
WA Institute of Surveyors president Wayne Stewart said the Government's decision to keep control of the land titles register was positive.
"Our concern is how (the Government) will fund other sections of Landgate when they remove one of the funding sources," Mr Stewart said.
He also suggested the Government may realise a larger profit than expected, based on the experience of other states.
"New South Wales went to market at about $1 billion and raised $2.6 billion, South Australia went to market at about $500 million and raised $1.6 billion," Mr Stewart said.
"What they've raised in the other states is certainly going to make it very attractive for any government."
What is the next step?
The Government says its will start a competitive tender in the coming months.
Data security and privacy stipulations will be included in the sale contract.
Finally, the sale does not require parliamentary approval, because current legislation allows a private operator to manage the relevant functions.
