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

Prime London property stock falls 3.4% in Q3

The latest Prime Central London Stock Index by Benham and Reeves has revealed that the number of properties listed for sale at £2m or above fell by -3.4% during the third quarter of 2026, leaving 3,778 prime homes on the market. While Kensington, Notting Hill and Chelsea recorded modest increases in available stock, several established prime…
Read More →
Estate Agent Talk

When a chain breaks: how bridging can keep a sale moving

Every agent knows the call. A buyer further down the chain has pulled out or their mortgage has stalled, and a sale you have worked on for months is about to fall apart. Often the person caught in the middle could still buy if they did not have to wait for their own sale. That…
Read More →
Breaking News

Four in ten homes see asking price reduced

More than four in ten homes currently listed for sale across England have already seen their asking price reduced, according to the latest market analysis by eXp UK, with the number of reduced properties climbing by 3.6% since August. eXp UK analysed property listings across England to establish how many have undergone an asking-price reduction.…
Read More →
Breaking News

Breaking Property News 19/10/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Last week Sourced Living began rolling out Genifea across its branches, the platform’s first commercial CRM integration. By Author Andrew Stanton CEO Proptech-PR Andrew Stanton spoke to founder Pragati Dhingra about what the Genifea platform actually does, where AI fits in an estate agency,…
Read More →
Breaking News

Mixed signals in UK construction as contract awards rise, but starts fall

Detailed planning approvals declined 16% against the preceding three months and fell 28% lower than last year, a warning sign for future work. Main contract awards dropped 19% against the last three months but climbed 25% year-on-year, a sign that major schemes are being committed. Project starts took the steepest fall, declining 26% against the…
Read More →
Estate Agent Talk

Estate Agents Brace for Rising Compliance Costs

Nearly two-thirds of compliance leaders in estate agencies and property firms expect budgets to increase amid growing pressures Just 6% expect cuts, down from 31% last year, while 63% now work weekly overtime on AML The majority of senior compliance professionals in UK property firms and estate agents expect their budgets and teams to grow…
Read More →