Inventory Base, one of the 12 founding executive panel members of the Open Property Data Association (OPDA) and a leader in property technology, is proud to announce its involvement in a groundbreaking initiative that has secured £742,700 in Government funding to revolutionise the homebuying and selling process, with the aims of cutting completion times by up to two-thirds.
The Property Data Trust Framework, led by the Council for Licensed Conveyancers (CLC), and in partnership with the OPDA, and Raidiam - pioneers of Open Banking - will establish the first framework for digitising property data and enabling secure data sharing among all parties involved in a transaction.
This major funding award, granted through the Regulators’ Pioneer Fund, marks a pivotal moment for the property industry, setting the stage for a transformation comparable to the impact Open Banking had on the financial sector, launched in January 2018.
The Property Data Trust Framework will bring together verified information from trusted sources such as HM Land Registry, local authorities, and conveyancers, enabling data to flow securely between stakeholders and significantly reducing transaction times, costs, and risks. Early projections suggest the system could cut completion times by as much as two-thirds.
Over the next 12 months, the project will enable ‘sandbox’ testing, establishing the technical, regulatory, and security standards required for large-scale adoption. With Raidiam leading the proof-of-concept phase and OPDA coordinating data standards and stakeholder collaboration, the initiative promises to deliver a secure, scalable foundation for property data innovation in the UK.
The OPDA is an independent industry body driving the digitisation and sharing of Open Property Data. Focussed on collaboration, transparency, security, and ethical practices, it aims to support and improve the home buying and selling process through data and technology leadership.
As one of OPDA’s executive founding members specialising in accreditation, Inventory Base is deeply involved in ensuring that the framework upholds the highest standards of trust, transparency, and data quality throughout the property lifecycle.
Sián Hemming-Metcalfe, Operations Director at Inventory Base, commented:
“We’re proud to be helping lead this defining moment for the property sector. The Property Data Trust Framework isn’t another innovation project, it marks the start of a structural reset.
Just as Open Banking reshaped financial data, this initiative will transform how property data is accessed, verified, and exchanged, creating a more connected, efficient, and transparent market for everyone.
This funding allows technology leaders like Inventory Base to accelerate the development of smarter systems that reduce friction, improve confidence, and modernise the way homes are bought and sold. It sets a new standard for data you can trust, and a digital future the entire industry can build on.”
