The UK property market is still built around documents, despite being powered by data.
Every home sale generates a huge amount of information. Yet buyers, sellers, surveyors, lenders, conveyancers and estate agents often spend time requesting, checking and re-entering the same information multiple times. The result is a slower, more frustrating transaction process for everyone involved.
That's why Cotality has joined the Open Property Data Association (OPDA).
From Document Exchange to Data Exchange
The vision behind OPDA is simple: property information should be collected once, verified appropriately and reused throughout the transaction process.
Its role in co-creation and testing of the Smart Property Data Trust Framework is vital to enable trusted sharing of structured information between authorised participants, reducing duplication, improving transparency and helping transactions move more efficiently.
For consumers, that could mean fewer requests for the same information and a faster response rate to reduce transaction time. For industry participants, it means better access to trusted, up-to-date data at the point it is needed.
Why This Matters to Cotality
Cotality is deeply embedded across the property ecosystem, helping lenders, surveyors, housing providers, owners, insurers and government understand property through data, analytics and technology.
We believe the future property market will be built on trusted, interoperable data. Joining OPDA allows us to contribute to the standards, frameworks and governance that will help make that future possible.
Just as importantly, it creates opportunities to connect information that is often held in silos today, enabling better decisions across valuation, lending, conveyancing, insurance, climate risk, retrofit and property improvement.
Looking Beyond the Transaction
While reducing delays in homebuying and selling is an important goal, we believe the longer-term opportunity is even bigger.
Every property has a story. Information about ownership, condition, energy performance, retrofit improvements, warranties, surveys and risks is generated throughout its lifetime. Yet much of that knowledge remains fragmented or inaccessible.
Open property data creates the potential for a secure, trusted and evolving digital record of a property that can support:
• Better-informed homebuyers and sellers
• Improved lending and underwriting decisions
• More efficient surveying and valuation processes
• Smarter retrofit and net zero programmes
• Better management of climate and resilience risks
• Innovation in new products and services
Our Vision
Cotality joined OPDA because we believe open property data can transform how information flows through the property market.
We want to help build a future where trusted property information moves seamlessly between authorised participants, where consumers remain in control of their data, and where better information leads to better outcomes for homes, their owners and residents.
The property industry is beginning a shift from document exchange to data exchange. We are excited to work alongside OPDA members and the wider industry to help shape that future.
