Proptech firm iamproperty has become a member of the Open Property Data Association (OPDA), joining an initiative aimed at standardising property information across the UK transaction process.
The company, which works with over 1,000 agency partners and provides onboarding, auction and material information services, will participate in OPDA’s efforts to develop open data standards for the home buying and selling sector.
Industry collaboration
Since its launch in June 2023, OPDA has developed open property data standards designed to create reusable and shareable property information for all parties involved in transactions. The organisation’s network includes six major banks, building societies, conveyancers, estate agents and technology providers.
Chris Watson, head of data and insights at iamproperty, said: “From day one, iamproperty’s mission has been to improve the broken homebuying process. We are committed to supporting the development and adoption of open property data standards that can help reduce friction in the home moving process.”
The move comes as letting agent use reaches a two-year high in England and Wales, reflecting broader shifts in how property transactions are managed.
Digital transformation
Maria Harris, chair of OPDA, noted that iamproperty had previously participated in the association’s sandbox programme and hackathons. She said: “As we continue to work with industry and government to accelerate the digital transformation of the property market, having organisations like iamproperty actively engaged in the development of open property data standards is incredibly important.”
The standards initiative aims to reduce friction, improve transparency and support more efficient transaction processes across the sector. This development follows recent data showing UK home searches rising 7% despite a 9% drop in buyer purchasing power, highlighting the need for streamlined property transaction systems.
OPDA’s membership expansion reflects ongoing efforts within the property sector to adopt shared data frameworks that could benefit consumers and professionals involved in property transactions.
