When we look at other industries like finance or retail, we can see how innovative start-ups have created game changing tools and services, from Monzo in the banking world to Amazon reinventing the shopping experience. Closer to home, the Property Technology (PropTech) sector is also building significant momentum, with £1.6 billion reportedly invested into UK PropTech firms in 2021 (that’s more than 15x the amount invested in 2016, as some compare the growth to the UK’s earlier fintech revolution).
Our work with the PropTech sector has continued to evolve to support departmental priorities, from broad housing market productivity in 2019 to housing market recovery in 2020 and digital planning 2021-2022. We are aware of the innovation and high-quality outcomes that are already being delivered through public and private sector organisations adopting the services of PropTech companies.
Engaging with innovators and the UK PropTech sector allows us to leverage private sector innovation to help achieve departmental objectives in new ways, ensures policy is future-proofed and fit-for-purpose in a digital era, and provides us with unique insights from companies on the forefront of industry change.
Some of our involvements over the past year:
- We have published highlights from our PropTech Roundtable with Director General Emran Mian. At this event we brought together entrepreneurs, investors, and industry leaders to help the Property Technology (PropTech) sector understand the government’s levelling up agenda and discuss where their insights, experience and solutions could help.
- We were proud supporters of the Public Sector Proptech Summit 2022, an event dedicated to Property Technology (PropTech) for the whole of the public sector, property and property technology professionals. You can read more about our Director General’s speech here or our panel of Local Planning Authorities discussing innovative approaches to community engagement here.
We have partnered with TechUK and the UK PropTech Association on industry events to support the PropTech ecosystem, such as PropTech Companies & Navigating Public Sector Procurement.