Breaking Property News – 05/05/2023
Daily bite-sized proptech and property news in partnership with Proptech-X.
3Di Systems Leveraging Software to Simplify Public-Private Housing Partnerships
Recently whilst hosting The London Proptech Show I had the great fortune to meet in person with the CEO of 3Di, Ravi Desai, a company based across the pond who for the past two-decades has been digitally tansforming and modernising how property assets are run, providing over 300-solutions for the benefit of over 20-million people. This quietly spoken and humble man has huge oversight in this area, and I asked him to impart some of his wisdom for us.
In the following piece Ravi Desai tells all about a topic that resonates in many countries including the UK, The affordable housing crisis which affects millions of families across the country, making it difficult for them to find safe and decent housing at an affordable cost.
Is it game over for Proptech Purplebricks as share price drops 67% in a year?
On the 3rd of May 2022, Purplebricks had a share price of 20.23p, today it is only 6.5p a share, which is a whopping two thirds collapse in share price in 12-months. The embattled online agent may wish it was July 2017, when its share price was close to 500p, so what has gone so badly wrong?
Well in a digitally speeding world, with AI now seeming to be an unstoppable force, the concept of selling your home with less humans and more technology, seemed a good idea. But adoption is all, and Purplebricks failed to get vendor uptake.
UK Housing Policy General Election Hot Topic
Housing policy in the UK, does not exist, rhetoric around what it should be abounds. In the last seven days I have seen Lisa Nandy Shadow Leveller Up for housing flounder on television unable to articulate what Labour’s housing plan would be.
This was compounded by Shabana Mahmood’s inability to explain to Kuenssberg, how Labour’s housing programme would work. Given she is the National Campaign Co-ordinator of United Kingdom Shadow Cabinet she looked very much like a bunny in the headlights last Sunday.
On the flipside, Multi-millionaire Rishi Sunak, a man of the people, maybe his own people, whilst Chancellor of the Exchequer super charged the market with his SDLT giveaway, catapulting prices and demand through the roof. Now as PM he is seeing the inevitable dropping of sale prices and the cost of mortgages rocketing, with another Bank of England rate rise due in a few weeks.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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