Government plans a digital revolution in the property sector
The government has announced plans to release more data to “bring about a digital revolution in the property sector.” Housing minister Esther McVey MP said Compulsory Purchase Order (CPO) data will be opened up for the first time in a transparency drive to enable proptechs to obtain information including energy performance certificates and the square footage details of properties. A new national index of all brownfield data will also be created with the aim of simplifying and improving the quality of registers to help developers to find land to build on. McVey said: “Whatever homebuyers prioritise, whether it’s the quality of local schools, the probability of getting a seat on a train, or having easy access to leisure facilities, this technology could transform the way we find and purchase homes. And new technology will link builders to brownfield sites more easily, enhance how developers engage with local communities, help builders deliver new homes and modernise the way we buy and sell land and houses, cutting the time it takes to get housing from the drawing board to families getting the keys.” The growing UK proptech sector is potentially worth £6bn in the UK and already receives 10% of global proptech investment.