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

Breaking News

Persistent decline to give way to recovery in 2027

Glenigan’s Autumn 2026 Construction Forecast maintains that sector growth will revive in 2027, despite a challenging year of market stagnation Following a sluggish end to 2026, construction is set to rebound from 2027 onwards as public sector building increases Significant value gains expected for health, education, civils, offices and data centre projects Private and social…
Read More →
Estate Agent Talk

The Plumbing and Electrical Problems That Quietly Kill Sales and Lettings

We’ve all had one of these. The offer’s agreed. Everyone’s happy. The memorandum of sale has gone out, and you’re already mentally banking the fee. Then the buyer’s survey comes back. “Electrics appear dated. Recommend inspection by a qualified electrician.” And just like that, the mood changes. The buyer starts asking about a reduction. The…
Read More →
Breaking News

Rental price and average salary tracker – October 2026

Rental prices rise across most regions as affordability pressures persist Average monthly rents increased in eight of the 11 regions between September and October, with Wales recording the largest rise at 31.1%, followed by the North East at 29.8% and the South West at 7.5%. Scotland, London and the North West were the only regions…
Read More →
Letting Agent Talk

Portfolio landlords have outgrown traditional property management

By Adam Hills, Client Services Director, LRG Living Markets The residential lettings industry still manages many large portfolios as though they’re simply collections of individual tenancies. While that works on small portfolios, but it doesn’t work when landlords own 50, 100 or 200 properties. At that point, the challenge is no longer property management alone…
Read More →
Breaking News

Real-life value of the most famous Christmas film homes

The real-life value of the most famous Christmas film homes, from budget classics to multimillion-pound mansions New research has gathered and analysed the estimated valuations of real homes featured in popular Christmas films, ranking them by cost. The priciest homes are featured in The Holiday, Trading Places, and Home Alone, with Amanda’s home from The…
Read More →
Estate Agent Talk

77% of buyers refuse to buy a flood risk property

Despite 4.7 million English homes facing flood risk New research from Lyons Bowe has revealed that 77% of homebuyers would not consider purchasing a property in a flood risk area, despite more than 4.7 million homes across England currently being deemed at risk of flooding. The findings come as the Government launches a new flood taskforce amid…
Read More →