Now that the dust has settled on the Government’s new Industrial Strategy, Dave Seed at Qube Residential has reflected on what exactly this could look like for the property sector.
Dave Seed, Managing Director at Qube Residential said:
“For far too long, property transactions have been hindered by disjointed systems and outdated procedures. The Government’s recent pledge to back Smart Data initiatives is a progressive step for the property industry.
“There is a strong desire within the sector to embrace change, and it’s encouraging to see the government not only recognise this momentum but also actively support it. By facilitating secure and standardised data sharing among all parties involved, we have a real opportunity to tackle any inefficiencies that make buying and selling property drawn out, timely and complicated.
“At present, the average time to complete a property purchase in the UK is around 22 weeks, with over 25% of sales falling through. These figures aren’t just abstract, they reflect real emotional and financial strain for buyers, sellers, conveyancers, lenders and the wider economy.
“While Smart Data won’t solve every challenge overnight, the government’s backing lays essential groundwork for a more streamlined and intelligent system, not only for property transactions but for the broader future of property development and management”.
