Do you believe this will stimulate the British economy? Will there be a flurry of transactions?

Neal – I see the shift to having all the property online as not making a difference to the market activity. The property that is ‘missing’ from the present Land Registry database is mostly land that does not change hands much. What it should do is remove the uncertainty associated with not knowing who owns what.

As the UK makes all the records more transparent and as the internet helps with price discovery the UK will see less volatility in prices. People will be more certain of what similar property is worth. They will make offers with confidence and not overpay when buying.