Rightmove welcomes plans to digitalise key property data to speed up home buying The Government is set to revolutionise the property buying process by digitising data shared during sales, aiming to eliminate delays and make the house-buying experience more efficient.
According to Rightmove, the average time from accepting an offer to moving into a property is five months, and "digitising" the property market is crucial to speeding up this process.
The Ministry of Housing, Communities and Local Government has unveiled its vision for a "fully digitalised" home buying and selling process, which promises to speed up property transactions by enabling mortgage lenders and surveyors to instantly access crucial information.
Rightmove boss Johan Svanstrom emphasised the importance of digital innovation in the property sector, stating: "Digitising the property market is key to helping speed up the moving process.
Furthermore, HMLR will spearhead ten-month pilots alongside local councils focused on liberating additional data and digitising it, which could see property transactions moving along at a swifter pace thanks to plans for digital identity verification services.
