Geovation, Ordnance Survey’s innovation hub, has been included in a key initiative to make the home buying/selling process more efficient and transparent.

The intricate landscape of property transactions involves engaging with numerous stakeholders, and investing substantial time and effort. According to data from Home Buying and Selling Group (HBSG) the persistent fall-through rate in home purchases consistently surpasses 20%, putting financial strains on consumers. This rate is further exacerbated by a lack of trust among the various stages and agencies involved in the transaction process.

Recognising the imperative for change, a new collaboration has emerged, uniting government bodies with crucial industry participants.

The Digital Property Market Steering Group (DPMSG), established in 2023, marks a significant milestone in addressing these challenges. Esteemed founding members include the Law Society, the Conveyancing Association, and HM Land Registry.

The DPMSG embodies a collective commitment to reforming the property market landscape. Its core mission is fostering a secure, modern, and transparent property market; one that prioritises the needs of consumers and businesses alike.

Embracing innovation and data-driven solutions are fundamental pillars in the DPMSG’s vision. With Geovation now stakeholders in this dynamic ecosystem, we are poised to contribute our expertise and insights towards advancing the DPMSG’s objectives.

Through collaborative endeavours and a systemic approach, we envision a future where every individual involved in property transactions experiences a market that is secure, transparent, and customer-focused at every stage of the process.