‘What problems can proptech solve?’ asks official probe

The Ministry of Housing, Communities and Local Government (MHCLG) is conducting a survey of proptech firms to get a better understanding of the benefits they bring and whether they could help speed up the delivery of homes.

The survey is relatively basic, asking participants whether their proptech solution saves time, reduces costs or creates jobs.

The results though will be of interest to the wider property industry, which has become wary of both the cost and benefit of some tech solutions.

Insights

Whether it can speed up the conveyancing process will be an area of special interest.

And proptech that encourages efficiencies and stimulates activity in the build-to-rent sector will also garner plenty of attention.

The survey asks for participants to validate their claims with data, so its conclusions could provide some useful insights.

We are conducting this survey to better understand the quantifiable benefits of using PropTech solutions.”

But whether it will encourage the development of new tech solutions is debatable. As the The Neg reported recently, since the demise of Purplebricks, funding for proptech firms has plummeted by nearly 70%.

No date has been fixed yet for revealing the results but MHCLG say the survey will: “Gather evidence which helps shape MHCLG’s approach to supporting the sector.”

It is not clear however if that means the Government will invest in the sector, or merely give it some encouragement.

MHCLG’s mandate includes investing in local areas to drive growth and create jobs, delivering new homes, supporting community and faith groups, and overseeing local government, planning and building safety.