As the most unwelcome visitor to homes across the UK, Covid-19 has placed an unprecedented strain on the property market as people shield themselves and socially distance to guard against its worst effects.

The brief Boris bounce of early 2020 feels a distant memory after a seven-week Spring shutdown put sales on pause. Now the market is tentatively re-opening, it has never been clearer that digitisation is crucial to its forward momentum – both in times of crisis and for long-term success.

Forward thinking businesses that adopted digital practices before the pandemic were able to adapt quickest and forge a ‘new normal’. At the same time, plenty of firms have been agile under pressure and found ways to pivot their operations under lockdown.

The surprise factor

It has been encouraging to see examples – in and beyond the property market – where data and technology are helping to mitigate the challenges thrown up by Covid-19.

Some businesses have surprised themselves about the benefits this has brought; others have found creative solutions to traditional tasks that were previously considered impossible to change.

Our customers know that agility and the early adoption of technology are both at the core of Search Acumen’s DNA.

Since seamlessly moving to remote working we have continued our investment into this technology-based future, in part evidenced by our ongoing collaboration with Coadjute, the property blockchain business, and other partners to launch the Property Insights Report.

The report harnesses data at key points in the property process so professionals across the market – from estate agents to conveyancers – can monitor activity and prepare for when growth returns.

Other firms have also embraced the new ‘virtual reality’ to achieve a degree of ‘business as usual’ by employing new solutions for traditionally in-person activities.

Estate agents are using video viewings, surveyors are delivering ‘no contact’ valuations, and the Housing Minister has enabled planning authorities and developers to publicise applications through social media, rather than posters and leaflets.

Why only now?

Covid-19 has acted as an unwelcome catalyst for much-needed digital transformation. In some cases, it is fair to ask: why wasn’t the property industry already working this way?

Our priority has always been to generate better insights and more efficient outcomes for conveyancers and their clients by digitising the due diligence requirements that are crucial to a successful sale or purchase. New ways of thinking and working are needed now more than ever.

It is no secret that seven weeks of restrictions have led to a widespread stalling of existing property transactions at various points, as well as stopping new sales.

Even where some transactions have proceeded the challenges faced by third parties such as local authorities (LA) have been a contributing factor to ongoing difficulties with many operating at varying levels of capacity and some even having to close in order to manage the threat to safety.

The reduced ability to process LA property data requests remotely, and a lack of digital infrastructure, has left legal advisers unable to carry out normal due diligence processes on behalf of potential buyers.

In response, we have been exploring ways to harness all alternative data sources so lawyers can give clients early and better-informed insights into potential issues and take steps to help transactions progress smoothly.

Public bodies including HM Land Registry and many LAs have also been working hard to improve their digital processing of property information requests in order to support optimising the due diligence of transactions.

This fresh energy and resourcefulness in adopting digital practices must now become more than a short-term response by the minority to exceptional circumstances.

Collaborating for a better future

To bring about long-lasting and positive change, the collaboration of the entire industry is needed to accelerate digitisation and improve the property buying and selling experience. This is a paradigm shift that cannot be achieved through silos.

There are plenty of opportunities to embrace a better future as we transition to the ‘new normal’. This includes harnessing data and technology to improve wellbeing, create healthy workplaces and address crucial sustainability issues.

Employers are under pressure to ensure the safety of employees in the gradual return to work. Innovations such as biometric technology are becoming a bigger focus to access office spaces and limit the spread of germs from physical contact.

There is also heightened scrutiny on using materials that are easy to clean but also sustainable.

Increased working from home looks to be here to stay – promising much-needed environmental benefits and requiring employers to have the digital infrastructure to support efficient work practices.

Technology will be equally important for landlords to create attractive workspaces so that employees choose to come to work.

What is most interesting is that much of the technology to facilitate these changes has been available for years – such as electronic ID verification rather than physical document checks – but has remained largely unadopted until now.

The private sector cannot meet these new demands alone and must work in tandem with public bodies. This is the moment for Government to support the shift towards digital once and for all.

Only once we are working in collaboration to harness the latest insights and innovations will we be able to forge a more efficient, productive and future-proofed property market which can only be good for the future of UK plc

We should all use this moment to embrace the progress that has been forced upon us rather than dream of a return to the status quo.