Proptech is changing the way we buy, rent, and sell property in the UK. It’s a fast-growing sector and many consumers are becoming comfortable with the idea of virtual house hunting. Augmented reality is already being used to make remote viewings possible, and several apps are being introduced to streamline the process.
The UK proptech sector is already worth £6 billion and there are over 700 startups in the field. Here are a few examples of the top proptech companies to look out for this year.
Coadjute
Coadjute uses technology inspired by blockchain to bring different aspects of real estate together to make the process a lot quicker and easier. The company’s objective is to facilitate the entire property buying procedure using its single app.
It’s essentially an app for data sharing within the property market, that allows buyers and sellers to make decisions in real-time.
Homeviews
Homeviews is a review site for property, that works in a similar way to TripAdvisor. The platform includes reviews from real tenants and landlords, aiming to provide a realistic representation of what the property is like to actually live in.
The site also includes expert advice from industry professionals and researchers, to give trustworthy insights on residential developments.
Appraised
Appraised is the first cloud-based too for running site appraisals. This London based start-up aims to transform the way the property industry appraises development opportunities. It’s designed to streamline the appraisal process and facilitates interactions between property lenders, investors and other professionals.
The appraisal report can be run from any device, anywhere, and within minutes. Running the numbers on property development has finally been made simple.
This makes home renovations with residential architects such as Scenario Architecture much easier. The start-up has received £500,000 back up investments from leading property, technology, and business experts.
Brikcoin
Brikcoin is UK-based private development company focused on the provision and management of high-quality low-cost social housing. Based on a similar idea to blockchain, brikcoin is transforming the housing industry using crypto-currency.
The aim of brikcoin is to solve the UK’s housing crisis, making properties more accessible. The cryptocurrency token works out as much cheaper and its purpose is to create affordable housing.
Kiko
Kiko is a new app that could save tenants thousands of pounds when moving house. The app is planned to be launched in London by two former employees of Revolut. The app aims to solve the problems between tenants and landlords involving the deposit on a property.
The app aims to benefit both landlords and tenants. Tenants will only be required to pay a holding deposit which is returned to them after the first month’s rent has been received. Landlords will be able to advertise their property for free and receive guaranteed rent on time via the app.
In the not too distant future, we could see the one-click buying attitude being applied to the real estate market. With more property experts endorsing advances in proptech, both buyers and sellers are warming to the idea.
