The Open Property Data Association (OPDA) has welcomed the Government launch of pilot projects to explore digital solutions to improve the buying and selling process.
OPDA has engaged with various Government departments to highlight the need for open standards, digitisation of property data, and adoption of digital innovation.
The OPDA was set up earlier this year, by firms across the homebuying and mortgage industry, with the goal of making accessing and sharing property data simpler and quicker.
The Government is developing a package of reforms to the buying and selling process in England, with a focus on improving the availability of essential property information and driving digitalisation.
With £3m of funding for delivery, the projects include: funding a number of proptech firms to scale up innovative products; funding a small number of local authorities to pilot approaches to digitalising data relevant to residential property; funding independent research on data standards to bring forward a set of standards for the sector.
OPDA particularly welcomed the open data pilots project and the data standards project, having delivered a property data trust framework underpinned by the availability of open data.
Maria Harris, chair of the OPDA, said: “Open data standards are essential for making informed decisions about property.
“The home buying process should be 100% digital and data driven. But it’s currently less than 1% digital.
“We are very pleased that Government is committing funding and resource to improve the home buying process and taking an active role in how we achieve the digital and data standards we need.
“Better information for consumers before making an offer will reduce the number of failed transactions throughout the system.”
