The Competition and Markets Authority (CMA) has challenged the government over its renewed attempt to privatise the Land Registry.
Last week's Queen's Speech revealed that the proposed sale of the Land Registry is to be part of the Neighbourhood Planning and Infrastructure Bill.
The Department for Business, Innovation and Skills (BIS) is currently running a consultation on the proposed sale.
The CMA has now posted its response to the proposed sale in the form of a letter to Lizzie Dixon, Assistant Director at BIS, authored by the CMA's senior director, John Kirkpatrick.
The letter states that readily available public sector information holds value and that public and wide-ranging access to Land Registry data is beneficial for the economy.
It uses the example of popular property apps which use Land Registry data.
"We believe that consumers and the economy would be best served by a model that promotes wide access to Land Registry data at cost-reflective prices, encouraging its use and commercial exploitation by a range of individuals and businesses," writes Kirkpartick.
The competition watchdog goes on to warn that it does not believe a private Land Registry would maintain or improve access to its data.
It argues that a private Land Registry may in fact degrade access to its 'monopoly data' in order to weaken competition to its own commercial products.
"While these risks are not unique to privately-owned monopolies, our view is that they may be sharpened by the introduction of a profit motive," reads the letter.
The letter goes on to suggest that it can be 'very difficult and time-consuming' to solve problems that arise from privatisations, giving rise to anti-competitive market structures.
In the event of privatisation, the CMA urges the government not to narrow the pool of bidders for the privatisation, setting market rules and usability standards and to avoid structuring the privatisation in a way that gives the provider of the Land Registry data 'excessive incumbent advantage'.
It says carrying out these steps, among others, could mean that taxpayers and consumers' interests are better served by a privatisation.
Kirkpatrick writes that the CMA's principal concern is that attaching higher prices to Land Registry data would harm consumers as well as 'restricting innovation and choice in the flourishing app and website markets that rely on this as an input'.
The letter concludes by challenging the government to publish a detailed assessment of how fees and data costs might vary under different privatisation models and what impact this might have for consumers.
The government's consultation on the sale of the Land Registry – which has been criticised for being launched just before the Easter Bank Holiday weekend – is due to end on Thursday May 26.
During the consultation period, a petition against the privatisation of the Land Registry has received over 225,000 signatures.
The Land Registry employs almost 5,000 staff and has recorded the ownership of all land and property in England and Wales since the 1860s.
An attempt to sell the Land Registry by the last government was halted by Vince Cable and the Liberal Democrats.