Performance

Achievement of Key Performance Targets

Key Performance Indicators and Targets 2003-4	Target 2003-04	Achieved
Customer Service
Speed
Percentage of office copy and official search applications processed within two working days	98	100
Percentage of all registrations processed within 20 working days.	80	88.6
Accuracy
Percentage of registrations processed free of any error.	98.5	98.79
Overall Satisfaction 1
Percentage of customers who, overall, are very satisfied/satisfied with the full range of services provided by Land Registry.	Better than 94	98.34
Financial
Percentage return on average capital employed.	6	11.5
Efficiency2
Cost per unit in cash terms3 (real terms)4	£29.31 (£22.17)	£27.06 (£20.47)
Strategic
Start pilot implementation for e-discharges		December 2003
Make all key Land Registry information services available over the internet		March 2004
Critical Action Points
Implement the Land Registration Act 2002		October 2003
Report to Ministers on proposals for e-conveyancing services and procurement strategy		February 2004

1 Results from annual customer survey and YTD January 2004 mini
satisfaction survey.
2 This is a milestone towards the HM Treasury-agreed cost per unit
target for 2006–07 of £28.81 in cash terms (£20.27 in real terms).
3 Based on the GDP deflator issued by HM Treasury in March
2004 (base year 1992–93).
4 The real term unit cost in the base year of 1992–93 was £30.65.