Chairman & Chief Executive message
During the past 12 months, Landgate has continued to create innovative ways of delivering high quality and relevant products and services. It’s been a busy and active year and the business is better equipped for the future.
We know that to grow the business and meet changing customer expectations and an evolving technology landscape, we need to accelerate our ongoing reform agenda.
Landgate’s business-wide improvement program, known as Transform, commenced in early 2014 and will continue over the next few years. Much has been achieved in the past year. The program focuses on changes to the way we work including people, process and system improvements.
Reform of Landgate’s pricing framework has made significant progress and provides the platform for the realisation of its transformation agenda. It will allow the authority to retain savings made through business efficiencies, resulting in public policy benefits and a greater return to our shareholder, the State of Western Australia.
These, and other changes underway in the business, will ensure we deliver value to our customers and shareholders, enhance our operating performance and continue to build a highly-skilled and engaged workforce.
Our financial performance to 30 June 2015 exceeded budget expectations, with Landgate making a gross profit of $29.8m. This has been achieved despite a weaker than expected property market, which resulted in a decrease in revenue from core services, and a revaluation of the Midland property that adversely affected our results. This was offset by additional investment revenue and lower expenditure as a result of tightly managed budgets and recruitment constraints.
Landgate’s strong net asset position of $201.4m, enables Landgate to contribute to the state’s finances through the payment of income and payroll taxes and dividends to the government.
The authority’s ongoing commitment to innovation, research and development has led to its reputation as a leader in providing location information services.
Plans for the creation of Western Australia’s first Location and Innovation Hub at Landgate are underway, following the development of a blueprint and widespread research to guide the implementation process. It will bring policy, governance, infrastructure, education, research and development together with private sector investment to address issues of local and state importance. Landgate will fulfil a lead role in the establishment of this facility.
I acknowledge the commitment of my fellow Board members, whose skills and experience have been readily applied to meet the challenges of the past year.
I would also like to thank the people at Landgate, the management group, and especially the Corporate Executive, which has developed into a strong, cohesive team led by Chief Executive, Mike Bradford. I have enjoyed working with them and have confidence they have the passion, skills and commitment to meet the challenges of the coming year.
Finally, I would like to recognise the Minister for Lands, the Hon Terry Redman, who supports the important role Landgate undertakes and shares our vision for the authority’s future.
Chief Executive's message
As the Western Australian economy and the public sector face significant challenges, we continue to take a proactive approach. Landgate has achieved much during the last 12 months, delivering value to the Western Australian community and our customers.
In May, our National Electronic Conveyancing System project enabled transfers, caveats and withdrawal of caveats to join the suite of property transactions to be processed through the e-conveyancing system Property Exchange Australia (PEXA). This marked the first time a complete property transaction, including full financial settlement, could take place electronically.
Our ongoing business improvement program, Transform, is building the foundation for improvements to our systems and operating performance, as well as enhancing the capabilities of our people.
As part of this, our organisational values were refreshed and launched in late 2014. Our new values guide how we behave and interact with our customers, community and colleagues.
During the year, more than 33,000 new lots were created, which is 16 per cent higher than the previous year. Recent process improvements enabled Landgate’s registration team to complete this large volume in relatively short timeframes.
A strata titles reform consultation paper was released for public comment at the end of 2014 to ensure those with an interest in strata development were informed of the proposed changes to the Strata Titles Act 1985. These reforms will help provide more flexible and sustainable housing options, with the state’s population expected to increase to 3.5 million by 2031.
In March 2015, the authority launched its new corporate website. Rebuilt from the ground up, it was designed in consultation with customers. Although relatively new, the website has already received positive feedback.
I am proud of the way Landgate seizes future opportunities and confronts challenges. This is due to the expertise and commitment of our people and has been the key to our success over the last 12 months.
I would like to acknowledge my Executive team whose input has contributed to Landgate’s many successful initiatives over the last year.
Finally I would like to thank the Board, in particular the Chairman, Mr Geoffrey Hick, who completes his final year with Landgate in 2015. I sincerely appreciate his invaluable contribution to Landgate over the past six years.