The Open Property Data Association (OPDA) has welcomed the Government launch of pilot projects to explore digital solutions that could improve the home buying and selling process.

Set up earlier this year by companies across the homebuying and mortgage industry, OPDA engages with different Government departments to highlight the need for open standards, prioritise the digitisation of property data, and to drive the adoption of digital innovation across the industry.

OPDA research, based on its proof-of-concept and beta testing on which property data sources have the biggest impact on improving transactions, are set to inform the pilot projects.

The Government is developing a package of reforms to the home buying and selling process in England, with a clear focus on improving the availability of essential property information and driving what OPDA has suggested is “much needed digitalisation” of the sector.

These pilot projects will explore digital solutions to improve the home buying and selling process, in a bid to transform an inefficient, largely paper-based process into a streamlined, digital one.

“Open data standards are essential for making informed decisions about property,” OPDA chair, OPDA chair, Maria Harris, said.

“The home buying process should be 100% digital and data driven. But it's currently less than 1% digital.”

With £3m of funding for delivery, the projects include proptech innovation fund pilots, which will see the Government fund several proptech firms to scale up innovative products that have the potential to significantly improve the home buying and selling process.

The projects also include open data pilots which will see the Government fund a small number of local authorities to pilot approaches to digitalising local authority-held data relevant to residential property.

Furthermore, the Government plans to fund independent research on data standards to kick-start its plans to bring forward a set of standards for the sector.

“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,” added Harris.

“Better information for consumers before making an offer will reduce the number of failed transactions throughout the system.”

---