When a new government strategy lands in the property sector, scepticism is often the default response – and not without reason. Conveyancers and lenders are already operating within a system shaped by complexity, pressure, and constant change.
The UK Government’s Smart Data Strategy 2035 may, at first glance, feel like another government-led data initiative. But it signals something more significant: a shift in how information moves through the property transaction. A more consistent and connected flow of information reduces duplication, improves visibility of key information, and limits reliance on manual processes.
If implemented effectively, Smart Data can help create a more consistent, connected and trusted flow of information between the parties involved in buying, selling and financing a home.
The reality today: a system constrained by fragmented data
Property transactions in the UK remain heavily reliant on fragmented, inconsistent, and often inaccessible data. The same information is requested multiple times, in different formats, by different parties. Much of the process remains manual, and critical issues often emerge late in the transaction, creating delays, uncertainty, and risk.
For conveyancers, this means time spent chasing information rather than advising clients. For lenders, it introduces friction into underwriting and decision-making. In both cases, fragmented data reduces visibility, slows momentum and makes the path to completion harder to predict.
These challenges are not new. They are systemic, and incremental improvements have done little to address them. The current reality reflects this: it now takes around 120 days to move from offer to completion, over 60% longer than in 2007. At the same time, around one in three transactions fall through, contributing to an estimated £400 million in wasted costs each year.
How Smart Data reshapes the transaction process
Smart Data enables the secure sharing of standardised information between trusted participants. In practice, this means more than putting documents online. A smart data scheme depends on agreed technical standards, common data formats, secure APIs, clear permission controls and a trust framework that sets out who can access data, for what purpose, and under what conditions.
Information can be collected once and reused multiple times – reducing duplication, improving consistency, and minimising the need for manual intervention. It also marks a shift away from siloed systems towards a more connected, interoperable environment.
The Government’s ambition to deliver more than 20 interoperable smart data schemes across sectors signals a long-term commitment to building the digital infrastructure required to support this. Within that, property has been identified as a leading use case, reflecting its potential to deliver significant economic impact. The strategy highlights an estimated £14.1 billion in net social value and a projected £2.06 billion annual contribution to GDP by 2043, underlining both the scale of the opportunity and the importance of getting implementation right.
For the property industry, the implications are significant. This is not simply about digitising existing processes or creating a faster version of today’s transaction, but about reshaping how information moves through the transaction, from initial instruction through to completion. Smart Data could create a more reliable data environment in which conveyancers, lenders and other authorised participants work from consistent information, with stronger assurance around where that information has come from and how it can be used.
What this means for conveyancers
For conveyancers, the impact is immediate and tangible. In a system where transactions can take months to complete, earlier access to reliable information allows conveyancers to identify and address risks upfront, rather than reacting late in the process.
Reducing repetitive data requests and manual handling also lowers administrative burden, freeing up time to focus on higher-value work such as client advice and risk management. In a profession where capacity is stretched and expectations are rising, that shift matters. Better data does not remove the need for professional judgement, but it can give conveyancers a stronger foundation on which to exercise it.
What this means for lenders
For lenders, better access to trusted, standardised information supports more consistent and confident decision-making. Inconsistencies and gaps in data can slow underwriting and introduce uncertainty into lending pipelines.
By improving the quality and consistency of data, and ensuring it is shared securely from trusted sources, Smart Data helps reduce that uncertainty, giving lenders greater confidence in the information they rely on when assessing risk and making lending decisions.
This is not just about efficiency; it’s about strengthening trust in the data that underpins lending and improving certainty in decision-making. Where fewer transactions fail or stall, lenders benefit not only from operational efficiency, but from improved pipeline certainty and less capital tied up in incomplete mortgage processes.
What this means for the wider property market
Across the property market, delays are rarely caused by one single issue. They are often the result of multiple participants working from different information, at different times, across systems that do not easily connect.
Smart Data has the potential to address some of these challenges. When conveyancers, lenders, and other stakeholders are working from the same consistent information, misalignment is reduced and the process becomes more predictable.
This creates the conditions for a more coordinated and efficient property market, one that better supports both professionals and consumers.
From strategy to implementation: what needs to happen next
The success of the Smart Data Strategy will depend not just on policy design, but on how it is delivered in practice. There is a risk that new frameworks and standards could introduce additional complexity if not implemented carefully.
At its core, Smart Data depends on trust, confidence that information is accurate, secure and shared appropriately. Without that, adoption will be limited and the benefits will be difficult to realise. If implemented effectively, Smart Data should simplify the system rather than add to it, reducing duplication and improving how information flows through the transaction while building on existing processes.
Collaboration will be essential. Government, regulators, lenders, conveyancers, estate agents, data providers and technology firms all have a role to play in shaping schemes that are practical, secure and trusted by the market.
At PEXA, we see a clear role in bridging the gap between policy ambition and practical delivery. By connecting participants through secure digital, improving visibility across the transaction and supporting greater certainty in completion, infrastructure providers can help ensure that reform translates into real-world progress.
Why this matters now
The Smart Data Strategy does not offer a quick fix, nor does it remove the complexity inherent in property transactions overnight. But it does set a clear direction, one that begins to address the structural challenges that have shaped the industry for years.
It points towards a more transparent, efficient and reliable property market, with success ultimately depending on how the industry chooses to engage. For those willing to do so, there is an opportunity not just to respond to change, but to help shape it.
The UK Government’s Smart Data Strategy 2035 sets out that direction in more detail and highlights the role the property sector can play in shaping what comes next.