For many years the Estate Agents Authority (EAA) has been receiving requests from the trade for the setting up of a centralized property database to enhance business practice. The Land Registry and the Rating and Valuation Department are considering the establishment of a Property Information Hub (PIH), a database that may be run on the internet. Interested parties willing to cooperate with the Government in building this database have been invited to submit proposals.

According to existing legislation an estate agent, upon entering into an estate agency agreement with a property owner, is required to obtain and keep in his possession certain information about the property, including ownership, encumbrances, area, year of completion, user restriction, terms of Government lease and other relevant items of information, known collectively as "the seven prerequisites for property transactions". However, such information is deposited at different Government departments, and agents may have to make more than one visit to the Government to get what they need. A number of trade associations have suggested the Government to create a centralized property database which may provide a one-stop property information service. The EAA has conveyed the industry's wishes to the Government on a number of occasions.

The proposed setting up of the PIH can be seen as a response to the needs of the property market and the estate agency industry. As we understand it, when in full operation, the PIH will provide around the clock, one-stop information retrieval service to estate agents online, eliminating the restrictions of office hours and reducing the cost involved. In addition, the PIH is being planned to include online ordering of Outline Zoning Plans, Outline Development Plans, Occupation Permits, Layout Plans as well as building statistics and analyses of property data. The system also has great potential for future expansion and is capable of accommodating data and information contributed by other Government departments.

The Government has indicated that it will study the proposals received carefully with a view to formulating the terms of cooperation and starting the project in due course.