Curious about #Proptech? Here’s some basic facts to know:

what is proptech

Innovation is key in nearly every industry and this includes the property sector which gives us the common phrase used today to put it all under, Proptech or as you would see online. #Proptech. Relatively a slow burner over the last 10 years or so, though more recently it’s a fast moving fashionable trend seeing amazing solutions being added to the industry and countless millions invested.

What is Property Techonology #Proptech?

Proptech is known to be the disruptive emerging power within the property sector and especially within the day to day practises of UK estate agents. Loved by many and loathed by many more, proptech is seen as the solution to reduce the likes of effort / time / paperwork increasing efficiency / results / connectivity. There is no defined criteria to being classified as a proptech, it is more what you are interpreted as being by the industry or the company itself placing its identity under it as such.

How popular is Proptech?

Today it is very popular and there are approximately 800 proptech companies trading in the UK with more than half of these located in London. Most of these companies will focus on solutions within the property management sector with buying / selling process being not too far behind. Prominently a B2B market and over half focused on the residential market with just over a third on the commercial side.

There are varied events on proptech across the country and beyond with MIPM (France) being the big one that pulls in proptech companies globally. From exhibitions to talks, investor shows (such as PropDen / TeqDen) to networking evenings – Proptech is certainly not a silent trend, it’s alive and kicking and there is plenty of opportunity to embrace the many fast growing companies in this field.

A search online for ‘proptech’ will deliver 12,800,000 results with countless websites dedicated to the topic from Venture Capital firms to varied Associations. Social media is also a great place to study proptech with the hashtag (#proptech) showing plenty of posts daily.

The UK property industry welcomed Nurtur Group from Fine & Country / The Guild that devotes itself to accelerating (proptech) innovations through investment, developing them for property businesses and deploying across a successful national network of agents.

Recent reports showed that a record £1.6bn in 2021 was invested in to the UK proptech scene which was a 4 x what was seen in 2020 (stats via Pi Labs) and an amazing 15 x more (£105.68 million) than what was invested back in 2016.

Interest in proptech is growing, it is fast moving and certainly here to stay!

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

Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More
Finance

Autumn Budget Misses Mark on Housing Reform: UK Rental Market Squeezed by Shortages and Rising Rents

The UK rental market faces mounting pressures, with a recent Rics survey revealing a critical shortage of properties and surging rent prices. Landlord instructions, a key indicator of properties available to rent, fell to a net balance of -29%, marking this the lowest level since 2021. Strong tenant demand is driving rents higher, with 33%…
Read More
Estate Agent Talk

Save a house deposit faster than ever in THESE areas!

Save a house deposit faster than ever in THESE areas! Aberdeen City in Scotland is named the best place to live if you want to save for a house deposit fast, saving in as little as a year and a half Inverclyde is second, whilst Burnley is third Average salaries and house prices in each…
Read More
Estate Agent Talk

Finding Your Dream Home: Expert Advice from Camberley’s Top Estate Agents

Finding the right estate agent is crucial when navigating the competitive housing market in Camberley. With local expertise and in-depth market knowledge, these professionals can guide you toward your ideal property, saving you time and effort. Their understanding of the area’s nuances, from property trends to community relationships, positions them as indispensable allies in your…
Read More
Breaking News

Zoopla reveals most affordable towns in Britain

With the average home valued at nearly four times average household incomes, Zoopla reveals the most affordable towns in Britain   An average property in Britain is valued at 3.8 times the average annual household income (assuming 2 full-time workers) Cumnock in Scotland, is Britain’s most affordable town to buy in 2024 with average property…
Read More
Software & Tech

The Evolving Nature of Real Estate and Strategies for Agency Success

Real estate agents are used to working with fluid market dynamics. Adapting their sales strategies and responding to new industry demands is almost second nature to most agencies today. However, while making the necessary adjustments when following housing market trends is important, it’s also important for agencies to consider new business innovations that become available…
Read More