Business & Technology
UK Open Property roadmap aims to speed up homebuying
The Centre for Finance, Innovation and Technology has published an Open Property Roadmap for the UK homebuying market, backed by the Department for Business and Trade.
The Roadmap sets out a model for sharing verified property data across lenders, conveyancers, estate agents, surveyors, search providers and public bodies to reduce delays and failed transactions. It is intended to move homebuying away from fragmented, paper-based processes and marks the first major Smart Data initiative beyond financial services.
Property transactions in the UK take an average of 22 weeks, while about 30% collapse before completion, according to figures cited by CFIT. Those failed deals cost consumers around £560 million in wasted fees and up to £950 million across the wider economy.
The market handles about 1.1 million transactions a year, worth nearly £380 billion, yet less than 1% of the data needed to buy a home is fully digitised. As a result, information is repeatedly requested, checked and shared between multiple parties during a sale.
Next phase
Alongside the publication of the Roadmap, CFIT has secured private-sector funding for the next stage of the project. That phase will focus on prototypes, proof-of-concept work, live testing across the homebuying process, impact assessment and further policy recommendations.
The work stems from CFIT’s Open Property coalition, formed to examine how Smart Data could be applied to home buying and selling. Participants include lenders, conveyancing firms, estate agency groups, property technology businesses, data providers, surveyors and HM Land Registry.
“The UK’s homebuying process is too slow, fragmented and stressful for consumers, with transactions taking months to complete and too many collapsing before completion. This Roadmap shows there is a clear and credible pathway to progress through smarter, more secure and interoperable use of data. This milestone also demonstrates the power of CFIT’s coalition model to tackle systemic challenges that no single organisation can solve alone – bringing together industry, government and regulators to align around practical, deliverable solutions,” said Anna Wallace, Chief Executive of the Centre for Finance, Innovation and Technology.
The Department for Business and Trade commissioned CFIT to convene the coalition and develop a strategic roadmap for an Open Property Smart Data scheme, with home buying as the main use case. The department’s wider Smart Data strategy aims to extend data-sharing models beyond open banking into other parts of the economy.
Broader model
Officials and industry participants are also treating the property project as a test of whether Smart Data can be applied in other sectors with complex chains of participants and regulated data flows. Areas identified for possible future application include energy, transport and health.
The Roadmap identifies the datasets, standards, governance structures and commercial conditions needed for a fully digital property transaction. The aim is to make verified information available earlier in the process so buyers, sellers and professionals can make decisions sooner and with less duplication.
The work is taking place alongside broader government efforts to reform home buying and selling. The Ministry of Housing, Communities and Local Government is expected to set out its own plans for the sector, while HM Land Registry is working with local authorities on pilots to improve access to key property data.
Baroness Lloyd, Minister for the Digital Economy, linked the initiative to the government’s wider digital economy agenda.
“Today’s Open Property Roadmap marks an important step in delivering this government’s ambition for a world-leading Smart Data economy. By bringing together industry, regulators and policymakers, CFIT has demonstrated how we can tackle complex, real-world challenges through collaboration and innovation. This work is not just about improving the homebuying process – it is about building the foundations of a modern, data-enabled economy. The coalition model pioneered by CFIT provides practical insights that can inform the government’s implementation of the UK’s Smart Data Strategy, demonstrating how policy ambition can be tested and progressed in real-world sectors,” said Lloyd.
The rationale for focusing on property is both economic and administrative. CFIT cited analysis indicating that a Smart Data approach to home buying could generate about £14.1 billion in net social value over 15 years, with home buying identified as the highest-value Smart Data use case across sectors.
Open Property is designed primarily for house purchases, but the same structure could later be used for remortgaging, maintenance, and resale. For now, the immediate task is to test whether verified digital property information can cut the time and uncertainty that have long defined the UK’s homebuying process.
CFIT estimates that around 530,000 property transactions fail each year.
Business & Technology
University of Lincoln wins Chelsea medal for RoboCrops
The University of Lincoln has won a Silver Gilt medal at the RHS Chelsea Flower Show for its RoboCrops exhibit, centred on an AI-based plant analysis system called PhenAIx.
Created by the university and its Lincoln Institute for Agri-food Technology, the exhibit features PhenAIx, which examines plants for signs of disease risk, environmental stress and growth performance before visible symptoms appear. Researchers presented it as a robotic phenotyping platform combining artificial intelligence, imaging tools and robotics.
The award places an agricultural robotics project among the notable displays in Chelsea’s GreenSTEM zone, where science and technology sit alongside horticulture. The attraction drew interest from visitors and policymakers during the show.
Plant analysis
Developers describe PhenAIx as a diagnostic scanner for plants, designed to detect hidden indicators in crops earlier than growers could through visual inspection alone.
The approach reflects a broader push in agriculture to use machine vision and automation to improve crop monitoring. Earlier identification of disease or stress can help growers isolate plants, adjust growing conditions or change treatment plans before losses spread.
The system could also contribute to developing stronger, more climate-resilient crops. The university linked the technology to efforts to improve food production and support more sustainable agricultural systems.
Beyond factories
The exhibit also highlights a shift in how robotics is presented to the public. Rather than focusing on industrial or warehouse settings, it places autonomous systems in a biological environment where variables are harder to control and outcomes less predictable.
That matters because farming has become an important test case for robotics and AI. Weather, soil, disease pressure and other changing conditions make agriculture a more complex setting than many conventional automation tasks.
Visitors included London Mayor Sadiq Khan, who discussed how systems such as PhenAIx could be applied to food production and climate-related pressures. No further details were given on any deployment timetable or commercial rollout.
Education focus
Organisers also pointed to strong interest from school groups visiting the show. The mix of robotics, AI, biology and environmental science appeared to make the exhibit an effective demonstration of how digital tools are being applied in food and farming research.
That educational role is becoming increasingly significant for universities and research institutes. Agricultural technology has often struggled to attract broad public attention compared with consumer-facing AI products, even as the sector faces pressure to raise productivity, reduce environmental impact and respond to climate volatility.
The university said it hoped the exhibit would encourage more young people, especially those from rural and agricultural backgrounds, to consider careers in robotics, data science and agri-tech. The ambition reflects a wider effort across the sector to build a workforce that combines software, engineering and plant science.
The medal is likely to give the project greater visibility beyond academic and specialist farming circles. Chelsea remains one of the UK’s best-known horticultural events, and recognition there offers research-led projects a way to reach audiences that might not usually engage with agricultural automation.
Researchers behind the exhibit said systems such as PhenAIx could support earlier crop disease detection, environmental monitoring, climate adaptation and more sustainable farming methods. At the heart of the display is a machine intended to show that plant health can be assessed before damage is visible to the human eye.
Business & Technology
Trouble for UK DIY giant as ‘late start’ to spring slows sales
B&Q owner Kingfisher has reported a dip in sales over recent months as the delayed onset of spring weather held back spending and bigger purchases remained subdued.
The DIY giant, which also owns Screwfix, said total sales declined by 0.9 per cent to £3.3 billion between February and April, compared like-for-like with the same period last year.
The business said it was “mindful of the consumer environment” but hailed a “resilient” start to the year.
The homeware giant revealed plans to cut more than 650 jobs across the UK last year, a move the company insists the move is about “simplifying” how its shops are run.
The company has stores in Oxford, Abingdon, Witney and Banbury.
In the UK and Ireland, sales at B&Q fell by 4.1 per cent, which the company said reflected a late start to spring resulting in fewer visitors to stores and affecting spending on some of its core items.
“Big-ticket” spending, meaning more costly home purchases, was dragged down by fewer bathroom sales, but the firm said this was partly offset by strengthening new kitchen ranges.
Nevertheless, the Screwfix brand continued to strengthen with sales jumping by 4.1 per cent year on year.
Kingfisher chief executive Thierry Garnier said it was a “resilient start to the year” for the retailer while remaining “mindful of the consumer environment”.
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The brand has been taking a bigger share of the market and has been impacted by online and trade initiatives.
The retail group is expecting earnings to grow this year, saying it is on track to make adjusted profits of between £565 million and £625 million for the current financial year.
“E-commerce and trade sales both delivered double-digit growth, underlining the momentum in our key growth drivers,” Mr Garnier said.
“While mindful of the consumer environment, we remain absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns.”
However, Russ Mould, investment director at AJ Bell, said: “Blaming the weather for weak trading is often seen in the ‘dog ate my homework’ category of excuses by the market, but the fact it has not forced any downgrades means Kingfisher has kept investors on side.
“Among the areas of positivity is the continued strong growth in the Screwfix business. Kingfisher, like several of its peers, is pursuing trade customers who are often more reliable and consistent sources of revenue than ordinary consumers.
“That’s because materials and tools are not a nice-to-have for them but essential to their day job.”
Business & Technology
Armalytix launches compliance bundles for home movers
Armalytix has launched Complete Compliance Bundles for the UK property market, combining several checks into a single process for home movers.
The new offering brings together digital identity, Source of Funds, anti-money laundering, fraud and affordability checks in one structured journey. The bundles can be tailored to different stages of a home move and to the needs of the firms involved in a transaction.
The launch comes as property companies face pressure to cut duplication in compliance work while managing rising scrutiny and transaction delays. Home movers are often asked to submit the same information multiple times to estate agents, brokers, lenders and conveyancers, slowing progress and creating inconsistent records across the chain.
Armalytix says its system is designed to give firms a single verified view of a customer’s status through one digital process. The approach is intended to help participants in a transaction work from the same base of information rather than relying on separate checks gathered through different systems.
Market pressure
Across the property sector, compliance has become a bigger operational issue as firms try to meet anti-fraud and anti-money laundering obligations without adding friction for customers. Transactions often involve several businesses, each with its own procedures, documents and systems, leading to repeated requests for information and more administrative work.
That has made the balance between regulatory requirements and customer experience a more prominent issue for property professionals. Delays and failed transactions remain a persistent concern, and firms have been looking for ways to gather key financial information earlier in the process.
The bundles include a single digital journey intended to replace multiple forms, emails and follow-up requests. Other features include workflows that can be adjusted for different roles across a property transaction and real-time visibility of compliance status on each matter.
The product also supports upfront data capture so checks do not have to be repeated later in the process. Armalytix argues this could reduce manual handling and limit the amount of information a home mover needs to resubmit as a sale or purchase progresses.
Property chain
Armalytix has been active in digital financial verification for the conveyancing market, and the new bundles extend that work across a wider part of the transaction chain. The product is intended to support estate agency, mortgage and lending workflows, as well as legal work linked to property deals.
By bringing those elements together, Armalytix is positioning the launch around a common market problem: fragmented compliance checks carried out by different parties at different times. If adopted by multiple firms in a transaction, a more unified process could reduce repeated data collection and help information move more consistently between participants.
For firms in the sector, the appeal lies in whether one structured journey can cut the administrative burden without weakening controls. Financial verification in property has become more detailed, and businesses must show they understand the source of a client’s money, identify fraud risks and meet anti-money laundering obligations while still moving cases forward.
Alex Mangan addressed that challenge in comments released with the launch. “Property professionals are under pressure to keep transactions moving, while home movers are often asked for the same information multiple times. That creates frustration on both sides. Complete Compliance is about simplifying that experience, giving firms a clearer, more structured way to verify transactions, and making the process easier for the people going through it,” said Alex Mangan, Head of Sales at Armalytix.
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