Initiative seeks to cut delays and streamline UK property transactions
A coalition of 23 organisations from across the UK property sector has launched Project 28: A Charter for faster, more certain property transactions.
The charter sets out a plan to address inefficiencies in the current system and aims to reduce the time from sale agreed to exchange to 28 days. It aims to respond to longstanding issues in the property market, where fragmented processes have led to significant costs for both consumers and professionals.
Project 28 advocates for the digitisation of key property information and improved data sharing between parties. The Charter’s signatories collectively support transactions involving over £600 billion in mortgage assets each year, handle more than half of all property listings, and process upwards of one million search and environmental reports annually. On average, these organisations are involved at three stages of every property transaction.
According to the group, which includes Nationwide, Yopa and Connells Group, home movers lose approximately £400 million each year due to failed transactions, while estate agents and conveyancers spend around four million working days annually on efforts that do not result in completed sales. The total wasted effort is estimated at up to £1 billion per year.
Project 28: A Charter for faster, more certain property transactions
— Landmark Information Group (@LandmarkUK) September 12, 2025
The Charter is a cross-industry commitment to transform the UK property market by reducing the time from sale agreed to exchange to just 28 days.
Explore the Charter: https://t.co/qyuB9EAppV#Project28 pic.twitter.com/tu8qbxzQWN
The charter sets out eight operational commitments for its members. These include providing more relevant information upfront, encouraging the use of secure and interoperable data platforms, and promoting best practice through a recognisable industry mark. The intention is to reduce inefficiency, enhance data transparency, and rebuild trust among buyers and sellers.
The group’s target is to reduce the average time from sale agreed to exchange to 28 days. Recent figures from Landmark Information Group show that in 2024, this period averaged 109 days—down from 115 days in 2023, but still significantly longer than in previous years.
“Project 28: A Charter for faster, more certain property transactions is a pivotal moment for the property industry – a united response to a system that has, for too long, been too siloed, let down consumers and slowed economic progress,” said Simon Brown (pictured top left), chief executive of Landmark Information Group. “This charter offers a realistic path to meaningful reform. We now urge the government and the wider market to act with us in transforming the experience for home movers across the UK.”
Verona Frankish (pictured top centre), chief executive of Yopa, said the charter sets a bold, practical path towards achieving a 28-day target from sale agreed to exchange. “By embracing digital solutions, improving transparency, and aligning best practice, we can transform the moving experience and restore trust in the process and our industry,” she stated.
For Nick Hale (pictured top right), chief executive of Movera, the industry-wide initiative is much needed, “It will help speed up house buying and selling and make the process smoother, more secure and more transparent ” he added. “With the average transaction currently taking more than 100 days to complete, it’s clear that the UK property market needs significant reform and we all need to work together to achieve the proposed 28-day transaction target.”
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