The Open Property Data Association (OPDA) has unveiled version 3.5 of its Property Data Trust Framework (PDTF), introducing new functionality designed to cut delays and drive greater transparency across the housing market.
The update builds on foundations laid in v3.0 and brings two standout enhancements.
The first is the introduction of milestones, allowing consistent progress updates to be shared across all parties in a transaction.
By giving everyone in the chain a shared view of key stages such as agreeing and confirming completion dates, the move aims to reduce the constant chasing that often slows deals down.
SURVEYS AND VALUATIONS
The second major change is the addition of surveys and valuations into the schema – a significant step towards a joined-up mortgage process. Standardising how this data is captured and shared should make it easier for brokers, lenders and conveyancers to progress applications with confidence.
Ed Molyneux, Co-founder and CTO at Moverly and a founding member of OPDA, says: “Version 3.5 is another important step in making digital property transactions the norm. Milestones are a game-changer – they give everyone in a chain a clear picture of progress and reduce the endless chasing that slows deals down.
“Adding surveys and valuations brings us closer to a joined-up lending process, which will be critical for adoption at scale. At Moverly, we’re fully committed to implementing these standards and helping the industry move forward together.”
TRUE DIGITISATION
And Angela Hesketh, Head of Market Development UK at PEXA, adds: “Version 3.5 of the Property Data Trust Framework marks another significant step forward in the industry’s journey towards true digitisation.
“The introduction of milestones has the potential to transform transparency across the chain, giving all parties a shared view of progress and reducing inefficiencies caused by manual chasing.
“Equally, the addition of surveys and valuations is a key move towards streamlining the mortgage process, ensuring that lenders, brokers and conveyancers can rely on consistent, trusted data.”
PIVOTAL MOMENT
The new release follows months of collaboration between OPDA members and industry partners, reflecting growing momentum behind data standardisation.
It also comes at a pivotal moment, with the Digital Property Market Steering Group (DPMSG) recently calling for closer collaboration with OPDA in shaping the next generation of property data standards.
