A revolutionary, deep-learning algorithm has been developed to identify and uncover more than 1.1m extra residential titles missing from HM Land Registry, approximately 4.6 per cent of all residential properties across England and Wales.
The specialist AI technology is the brainchild of Lumière Property, a south-east based proptech company, which is using their geospatial algorithms to identify gaps in Land Registry data and examine the planning potential of sites for development.
According to Lumière Property, it has only been mandatory to register all land transactions since the late 1990s and HM Land Registry only has 85 per cent coverage of the land in England and Wales – but by 2030 it aims to have all land registered. This means properties that have not changed hands since the end of the 90s may be missing from records.
“Since we rely on Land Registry cadastral data, these omissions restricted our ability to pinpoint thousands of development sites with great potential,” said Chris Rowland-Smith, Managing Director of Lumière Property.
“We are really excited at the prospect of using our new AI software; it’s an incredibly smart application and a significant breakthrough. We’re used to working in areas of dense housing stock so the 15 per cent of missing titles accounts for a substantial number of as yet untapped sites,” says Rowland-Smith.