Geodesys backs Project 28’s vision for faster, more certain property transactions

The housing industry is crying out for change. For home movers and conveyancers alike, the current transaction process is too slow, too costly and too uncertain.

Today, 1 in 3 property transactions fall through, costing the industry around £400 million every year, while the average time between sale agreed and exchange now stands at 112 days - 68% longer than it was in 2007. These delays create frustration for buyers and sellers and add significant wasted time and effort across the wider property sector.

That is why Geodesys is proud to have joined Project 28, an industry-led charter bringing together organisations from across the property sector to modernise the way transactions are delivered in the UK. The Charter sets a bold ambition to reduce the time from sale agreed to exchange to just 28 days through a practical, collaborative and digital-first approach. By backing this blueprint for change, we are supporting a more transparent, efficient and certain process that benefits everyone involved in the home-moving journey.  

Jonny Davey, Head of Business Development had this to say about our membership:

“At Geodesys we always pride ourselves, not just on the quality of our service and products, but the attention and effort we place on getting Search results to clients as quickly as possible. As a result, our turnaround times are amongst the very lowest in the industry – and it's from this position that we welcome Project 28’s commitment to help housing transactions over the line quickly, accurately and with the minimum of fuss and queries, all wrapped up in a modern, digital approach . It's what we have advocated for throughout our near 30-year history and we are delighted that Project 28 have brought this approach to the very forefront of the Conveyancing world.”

Why Project 28 matters

There is a clear need across the industry to speed up the conveyancing process and reduce fall-through rates. The delays do not sit with any one party alone; they are the result of a fragmented, outdated system that has not evolved to meet the scale, complexity and expectations of today’s housing market. The aim of Project 28 is not to assign blame, but to bring the industry together and drive positive change by streamlining the process and aligning all parties around a shared goal: reducing transaction times. For that ambition to succeed, every part of the value chain has a role to play.

The Charter is an incredible first step to improving this and bringing the industry together. It is the result of unprecedented industry collaboration, discussion and debate – with practitioners from across the country and all sides of the industry: estate agencies, conveyancers, mortgage lenders, brokers and partners, joining forces.  

If you’re a conveyancer and want to find out more about how this charter can help you, please click here.