Smart Property Data Trust Framework

The CLC is the sponsoring regulator of a project to deliver a proof of concept of the operation of a Smart Property Data Trust Framework in buying and selling property.

In partnership with the Open Property Data Association (OPDA) and Raidiam, pioneers of Open Banking, the project will create what is believed to be the first framework for digitising property data and enabling the safe and secure sharing of information upfront among all parties involved in a transaction.

Early estimates suggest this approach, which would see conveyancers able to access the data they need in one place instead of multiple different sources, and see exactly where it has come from, could reduce the time, cost and risk involved in property transactions by up to two-thirds. 

The Property Data Trust Framework, which brings together data from bodies such as HM Land Registry, local authorities and conveyancers, follows a successful bid for £742,700 to the Regulators’ Pioneer Fund, a government initiative which awards grants to regulators trialling new, more efficient ways of working. It is also supported by the Digital Property Market Steering Group (DPMSG) and, if implemented, would provide an open standard that will support interoperability across the property market.

The project will run for the 12 months from October 2025 and include sandbox testing of the technical infrastructure needed to underpin the regulatory, security and governance standards for firms that need to access and share property data. This ‘proof of concept’ testing, to evidence the feasibility of the project, will be led by Raidiam, the team behind Open Banking which allows people to securely share their financial data with authorised third parties, and which now works with more than 1,000 banks globally.

This will be the landing page for updates on the project as it progresses.