Are you confused with #PropTech enough to dismiss it?

August 25, 2017

So we have #PropTech and also #RealEstateTech and it is all rather currently busy with these words in this multi billion pound UK property industry, but is it all just a bit too confusing? When you start investigating things we also have #FinTech, #FoodTech, #AgTech, #FashionTech, #SustainableTech, #WineTech, #CarTech, #ConstructionTech and many more besides which all in all tell us that more or less every industry has a hashtag tech advancing each sector with innovation and newly formed start ups globally. So, what about the UK property industry, just what is proptech and what does it cover?

Being involved in proptech with the newly formed and already busy #PropTechDen events in London, I can see that proptech covers many different topics within the UK property sector from softwares for facilitating fault reporting to security systems for commercial buildings. Not only does proptech deal with solving problems within the industry it also opens new systems to enhance and improve things, it is software development to electronically themed, it touches upon residential to commercial property, improving environment within construction to advancing communications… So is it no wonder that many people are still confused to exactly what it is.

Maybe there should now be a breakdown of #PropTech to divide it in to parts that attract the interest of specific sectors of the UK property industry? There is certainly enough money floating about now in this sector, back in 2015 real estate tech startups around the globe raised $1.7 billion worth of investments and in 2017 the industry is alive with start ups in proptech, tech hubs hosting them and events dedicated to them. We already have the likes of #ConstructionTech and #BuildingTech and we can assume and agree that proptech deals mostly with the process of buying, renting and selling of commercial and residential property – so maybe we should have it now in sections such as: marketing, security, portals, commercial, residential, lettings and more?

 

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Estate Agent Talk

Riskiest Places to Purchase Property in England

Cash House Buyer Sell House Fast has revealed the riskiest places to buy and sell property in England, based on factors such as crime rates, flood risk, air pollution levels, road collision rates, and coastal erosion risk. The 5 riskiest places for buying and selling property in England: 1 – North East Lincolnshire (Overall Risk…
Read More →
Breaking News

House prices steady in May despite broader market uncertainty

The latest Halifax House Price Index for May 2026 shows that: House prices fell by -0.1% between April 2026 and May 2026. This marks the second consecutive month of marginal monthly decline. Annual house price growth increased slightly to 0.5% in May 2026, up from 0.4% in April 2026. The average UK house price now…
Read More →
Breaking News

Halifax House Price Index – May 2026

House prices steady in May despite broader market uncertainty. House prices edged down -0.1% in May, following a similar -0.1% fall in April Average property price now £298,806, compared with £299,251 in April Annual growth up slightly to +0.5%, from +0.4% in April Northern Ireland continues to record the UK’s strongest annual growth at +7.8%…
Read More →
Breaking News

More mortgage borrowers turning to shorter-term fixes

Borrowers are increasingly turning to shorter-term fixed-rate mortgages in response to higher rates, new analysis of mortgage search activity on Moneyfactscompare.co.uk has found. The share of Moneyfactscompare.co.uk website users comparing two-year fixed-rate mortgages increased from 48.4% in February to 55.6% in May, while demand for five-year fixed deals fell from 27.7% to 21.8% over the…
Read More →
Breaking News

Fear of a chain-breaks biggest concern in current market

The latest insight from quick sale specialists, House Buyer Bureau, has found that the most common reason homeowners choose a quick sale is no longer financial hardship, ill health, or the death of a loved one, but the desire to keep their onward move on track in an increasingly uncertain housing market. The internal data from…
Read More →
Breaking News

Property auctions generate complaints at four times the rate of the wider housing market

Property auctions account for just 2% of home sales but generate more than four times their share of complaints, according to a new insight report by the Property Ombudsman. The report highlights that while auctions remain a relatively small part of the wider residential property market, they are generating a disproportionately high level of consumer…
Read More →