The Iran conflict demonstrates just how susceptible the UK housing market is to global geopolitical shocks.
The conflict has already pushed average UK mortgage rates above 5%, led lenders to withdraw hundreds of mortgage products and recent reports indicate buyer enquiries are down due to the uncertainty.
In our interdependent global economy, events thousands of miles away can quickly translate into economic impacts at home. While central banks can calm markets quickly, and governments can soften the impact, neither can fully offset geopolitical events, only reduce their economic damage.
Like energy security, housing needs a long-term strategy to build resilience against these short-term shocks. The government’s current housing strategy is heavily focused on building more homes, yet in its latest forecast, the Office of Budget Responsibility predicted it will fall short of its ambition to build 1.5 million homes by 2030.
What’s needed is more radical reform. The housing market is archaic, characterised by static documents and lengthy transaction times, and urgently requires modernisation. It demands coordinated action across three critical pillars: leadership from the Open Property Data Association (OPDA), enabling policy and infrastructure from government, and active adoption by the property sector itself.
Only through collaboration between these groups can we build the firm footings of a modern, trusted property market. To continue the energy analogy, we don’t just need to build more wind farms or power stations, we also need to invest in in the grid to make us more resilient.
OPDA: Setting the direction for reform
OPDA was established as an independent and not-for-profit body to deliver a better home buying and selling process, helping to drive economic growth and a more sustainable property market. Our vision is for a property market built on smart data, which puts the customer at its heart and in control of their home moving transaction.
Smart data will transform how we buy and sell property – safe and secure processes, higher standards, faster transactions, fewer fall throughs, and greater transparency – and OPDA is building the framework that will turn this vision into reality.
The OPDA has successfully brought together stakeholders and pivotal strategic groups that have traditionally operated in silos, aligning government departments, data providers, lenders, conveyancers, technology firms and property professionals around shared standards.
A key focus and commitment is the development of common standards such as the Open Property Data Schema and the Smart Property Data Trust Framework, designed to allow property information to be securely shared and reused across transactions.
Government: Enabling infrastructure, policy and trust
While industry leadership is critical, transformation at scale requires government support. Public sector institutions play an essential role in providing the regulatory frameworks, digital infrastructure and governance needed to modernise the market.
Digitisation of property data held by local authorities, planning bodies and land registries is particularly important. Making this data accessible through consistent standards is essential to reducing friction and improving transaction reliability.
Government also plays a vital role in building trust. Through governance frameworks, digital identity standards and consumer protections, policymakers can create the confidence required for widespread adoption. Innovation funding and regulatory sandbox initiatives have also helped test new data-sharing models, helping turn policy ambition into operational progress.
The property sector: Turning vision into reality
Reform will ultimately depend on adoption by property professionals. Estate agents, brokers, lenders, surveyors, conveyancers and technology providers must embrace new ways of working and sharing information.
This means moving away from static documents toward secure digital data exchange. Digital identifiers and verifiable credentials will also help reduce duplication, improve security and speed up transactions.
Importantly, these changes enhance rather than replace professional expertise. By reducing administrative burdens, professionals can focus more on advising clients and delivering better outcomes.
Collaboration as the catalyst for change
No single organisation can deliver this transformation alone. OPDA provides leadership and standards, government enables infrastructure and trust, and industry drives adoption.
Together, these three pillars will create a property market where data is consistent, secure and reusable across the transaction journey.
Building a more resilient housing market
Global shocks will continue to test the UK housing market. While we cannot control these shocks, what matters is how efficiently the market operates. A modern, data-driven property ecosystem can reduce their impact by improving transaction speed, strengthening trust and maintaining market confidence during periods of uncertainty.
The path forward is clear: continued collaboration between OPDA, government and stakeholder groups, and the property sector can build the digital foundations needed for a housing market that is not just bigger, smarter and faster but also more resilient.
Maria Harris, chair of the Open Property Data Association
