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New research from the Open Property Data Association (OPDA) highlights a significant challenge in the move to digital property transactions – the lack of accessible and reliable information and a major gap in perception versus reality.
Some 64% of consumers believe that at least 21% of property information is already available digitally, but in reality less than 1% of this data is readily accessible in a truly digital format. This disconnect is a key driver behind delays, lack of transparency, and inefficiencies in the property market.
The OPDA says that property transaction process in the UK is in urgent need of modernisation, and is calling for change. It also points to the same research, which reveals that 82% of consumers believe Digital Property Packs are a good idea, with 77% stating they would use one if available. This comes hot on the heels of last month’s MHCLG announcement which recognises the commitment needed from government for the smart property data use case to be realised and reinforcing the need for digitisation and greater efficiency in the sector.
Maria Harris, chair at OPDA, commented: “The property market is long overdue for transformation. Our research shows that consumers are not only open to Digital Property Packs but are actively calling for them. With the Government’s commitment to digitisation, now is the time to push forward and ensure that buyers and sellers have the safe and trusted information they need at their fingertips.”
Phil Spencer, founder of property advice website Move iQ, added: “This announcement highlights what many of us in the property industry have known for years – the data we rely on just isn’t easily accessible, and too often, it’s in formats that are outdated, unreliable, or difficult to share safely. This initiative with clearer protocols for property data could be a game-changer for the way we buy and sell homes in the future. There’s still a lot of work to be done, but these steps mark a real shift in how the industry and government work together to improve the process.”
Digital Property Packs offer a potential solution by providing a secure, comprehensive, and instantly accessible gateway to essential property details. These packs enable buyers and sellers to access, verify, and share critical information upfront, streamlining transactions, reducing fall-through rates, and enhancing trust in the process.
However, the research also highlights the importance of clear guidance and regulation in ensuring widespread adoption. 15% of consumers cited government or regulator guidance on data sharing as the top factor that would increase their confidence in using Digital Property Packs.
Marion King, chair and trustee at Open Banking Limited, can see the impact open banking can have within the property sector: “Open banking is the blueprint for what could be possible in other sectors. By enabling secure, consent-driven data sharing, open banking has transformed financial services—delivering greater transparency, efficiency, and competition. This same approach can unlock similar benefits in areas like digital property packs, streamlining transactions, reducing friction, and ultimately improving consumer outcomes. As we’ve seen in financial services, when data moves seamlessly, markets work better for everyone.”
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