The Digital Property Market Steering Group (DPMSG) has published its’ roadmap to drive crucial change in the land and property market which outlines its’ public commitment to what can, at minimum, be expected in its first year.
The group held its launch event on 12 September 2023 and saw invaluable input and feedback into the group’s objectives from over 270 property sector and government guests.
Based on the five promises made by the DPMSG at its launch event, the roadmap is underpinned by five key objectives:
No surprises and no delays
Upfront information means there are no surprises after the buying decision and no waiting for searches
Transparency and innovation
Sharing information using an open protocol allows everyone to see what is happening in a transaction and support innovative new consumer-friendly digital services
Convenient and secure
Using digital ID checks (just once) and e-signatures makes the process easier and more secure.
Always improving
Collaborative research across users and the PropTech sector will accelerate the use of emerging technology such as Artificial Intelligence
Open and collaborative
Working in the open, publishing research, the programme of activities and an annual summary of progress.
Key aspects of the roadmap include developing an action list to remove paper-based processes and see rapid adoption of digital ID and secure e-signatures; a research and development roadmap; and a charter detailing roles and responsibilities across the sector to generate up front information.
The DPMSG will be publishing an annual report in 2024 to coincide with the anniversary of the 2023 launch event which will outline progress, the digital health of the property ecosystem, and its future direction.
HM Land Registry deputy chief executive and director of customer and strategy Mike Harlow said: “The roadmap sets out the Group’s strategic objectives and highlights the steps needed to achieve our goals.
“We will be actively monitoring and reflecting on our progress over the next 12 months, so it is important to note that this is a working document that will be ever-evolving helping us to align ourselves towards common goals, fostering better collaboration and better understanding.”
