Independent research confirms need for property data trust framework with OPDA
The Open Property Data Association (OPDA) has welcomed the findings of independent research published this week by TPXimpact, which highlights the critical role of open data standards in transforming the UK property market.
The report, commissioned by the Digital Property Market Steering Group (DPMSG), provides an evidence-based case for the adoption of shared data standards to ensure interoperability across the property sector. Crucially, it recommends that government, industry and DPMSG work with OPDA to co-create the trust framework that will underpin the future of smart property data and homebuying.
The research references the work of OPDA’s member firms, recognising their contribution to essential innovation and driving adoption of data standards while highlighting the success of those who are already transforming the homebuying process through collaboration. It also echoes OPDA’s calls for standardisation and collective governance to ensure the customer experience is modernised at every level.
Maria Harris, chair of Open Property Data Association, says, “This report provides a clear and independent perspective: data, trust and interoperability standards are the foundations of the property market’s future. The recommendation for government and industry to work with OPDA on co-creating the trust framework reflects the progress our members have already made, and the vital role standards will play in enabling a simpler, faster and more secure homebuying process. Delivering this change is inevitable and the best way for us to predict the future is to create it.”
The homebuying and mortgage market is now embarking on the biggest transformation in its history. With government commitment published, key legislation in place, and collaboration across industry already happening, the digitisation of property data is unstoppable.