Forecasting for the UK Property market in 2019, shows two main predictions.
Firstly, that the UK property market will remain resilient in 2019, despite the uncertainty of the impact of Brexit. The market has already shown its strength over the last two years, since the vote to leave the EU won the majority on the 23rd June 2016.
The second main prediction is that technology will strengthen its presence and influence on the market, becoming increasingly significant as Proptech is embraced, and the industry realises how PropTech is transforming the market.
So, what is Proptech? Forbes define Proptech as follows:
‘Proptech is the acronym used to describe any technology for the real estate space. This can span software (property portals like Rightmove and Zoopla), hardware (for example, sensors), materials (for example, a recent news item on how special bricks are being developed to act as batteries for solar panels) or manufacturing (3D printing, offsite manufacturing etc.)’
Proptech is increasingly being seen as the way forward for Estate Agents, House Builders and Property Developers, due to the increasing pressures in relation to lowering fees, improving processes and efficiencies, and keeping up with digital transformation. Some see Proptech as a risk due to it being a new phenomenon, however its growth and movement away from becoming niche is causing gradual changes in these views, causing Proptech’s positioning and perceptions to adjust. Proptech is now represented as a great, relatively untapped opportunity, rather than a risky strategic move.
Forbes research shows that investment in Protech has soared, from $186 million globally in 2011, to $2.67 billion in 2016, whilst Real Estate News Exchange (RENX) figures suggest investment topped $12 billion in 2017. Furthermore, the Global Tech Confidence Index for mid-2018 suggests that ‘overall investor confidence on a scale of 1-10 for Proptech is at an all-time high of 8.7, up from 8 at the end of 2017’. This growth and positivity shows no signs of deceleration. All this investment and confidence being pumped into property technology has transformed Proptech from a secluded proposition, to something that can’t be ignored.
There is great opportunity surrounding Proptech, as it is a tool which can do both. It can increase revenue, but it can also significantly reduce costs, meaning it operates at both ends of the spectrum. This is the beauty of Proptech; it increases long-term output, but at less cost to the organisation, rather than more. There is a great window of opportunity here for property developers to reap the rewards of a long-term investment into technology.
This is where Property HQ comes in. Property HQ is a bespoke, powerful license-based website platform, designed by industry experts, tailored to house builders and property developers. While Proptech is emerging and growing in the UK, Property HQ is already here and is here to stay, growing just as quickly. Property HQ is centered around the requirements that have led to Proptech’s growth. It allows house builders to market and sell their properties with more efficiency and effectiveness, and is feature-rich, with many tools and integrations that can greatly transform a company’s online presence.
Drawing on our experience of working with large housing developers for over 20 years, we created a platform that is at the forefront of the Proptech revolution. Further to this, with the platform being headed up by industry professionals and digital experts, Property HQ is constantly updated, to ensure it always remains ahead of the game. Don’t let us tell you, let us show you… get in touch today.