The OPDA welcomes government report showing Smart Data homebuying reforms could unlock billions for the UK economy

19 March 2026

The Open Property Data Association (OPDA) has welcomed a major new government report confirming that Smart Data reforms in the homebuying process could generate billions of pounds in economic value and deliver the largest economic gains of any Smart Data initiative assessed.

The report, Understanding the Costs and Benefits of Smart Data Use Cases, published yesterday (18 March) finds that Smart Data for homebuying could create £14.1 billion in net social value and contribute £2.06 billion annually to UK GDP by 2043, making it the single most economically impactful Smart Data use case across all sectors studied.

Overall, Smart Data schemes could deliver £71.2 billion in net social value between 2028 and 2043, with homebuying identified as the top priority for implementation.

Maria Harris, Chair of the OPDA, said the findings from the Department of Trade and Business provide compelling evidence that modernising the UK’s slow and outdated, homebuying process is both an economic necessity and a major national opportunity.

“This report confirms that Smart Data in homebuying is one of the highest value digital reforms available to the UK. By enabling secure, standardised and reusable property data, we can reduce delays, fall throughs and inefficiencies—and unlock billions in economic growth.

“Government now has a clear mandate to prioritise Smart Data for homebuying. With the right policy support, we can build a faster, more transparent and more resilient property market that benefits consumers and the wider economy.”

The report highlights that Smart Data can significantly reduce transaction failures, improve market efficiency and cut the time and cost burdens currently placed on consumers and property professionals. Homebuying delivers the highest net social value and the largest GDP uplift of all Smart Data use cases analysed.

The other use cases included digitising trade finance, consumer experience of online groceries, supporting green home upgrades and verified electricity emissions reporting for SMEs.

The OPDA is already developing the standards and frameworks required to make Smart Data for homebuying a reality, including the Open Property Data Schema and the Smart Property Data Trust Framework, enabling secure, consistent and reusable property information across the transaction journey.

The OPDA is urging government to prioritise Smart Data for homebuying, invest in digital infrastructure and support industry adoption of common data standards.

“Smart Data for homebuying is critical for economic growth and improving our national infrastructure,” Harris added. “By working together, we can deliver a homebuying system that is faster, fairer and fit for the future.”

For more information on OPDA, visit: https://openpropdata.org.uk/.