Written by Laura Crockett • Published 24th May 2018 • 2 minute read
It’s official – the London market is the best place to be for all things PropTech. According to research conducted by Osborne Clarke, London was ranked as the leading European city for PropTech, with the majority of experts surveyed believing that it will continue to be the superior city for the next five years.
The legal practice cited the capitals long successful history within the property market and the impressive amount of interest it receives from venture capital investment. This is clear from the fact that Pi Labs, Europe’s first property tech VC is based right in the heart of London’s West End and has backed a number of PropTech companies, including Trussle and Hubble, which have gone on to become powerhouses within the industry.
Until recently, the property industry was behind the times, living in the traditional realm of estate agencies and ignoring the technology advances that were taking place in other industries. But this is no longer the case. Start-ups, most noticeably in the capital, have been taking on the old-fashioned marketplace to introduce a range of products and services – from deposit free rental platforms to affordable concierge services. Companies such as Reposit and Movebubble are suddenly promoting services that place the renter first, embracing the rise of Generation Rent and tapping into the growing marketplace of tech savvy millennials.
Outside of the consumer world, we have also witnessed the adoption of big data, with companies such as Datscha providing property investors with key insights into the best areas to invest in and upcoming trends in the market. Other businesses, such as RedstoneConnect, are embracing the rise of the Internet of Things to help property owner’s best manage their portfolio, edging us even closer to a smart world.
To celebrate London’s impressive contribution to the PropTech space, we’ve picked out our favourite up and comers:
Launched last year, HomeRenter is a new online letting platform that is looking to remove the need for a third party in the rental process. Set up by private landlords, HomeRenter is an Airbnb style marketplace for landlords and tenants to liaise directly with each other without the need for wasted ‘admin’ fees.
Designed for both rental and sales, OneDome allows you to put in your criteria for your dream home and suggests the best area for you. Using a sliding scale, you can decide how important transport, education, facilities, greenery, safety, lifestyle and quietness is to you. It then offers you the best 5 postcodes for you with a link straight to the listings on popular property portals. Great for anyone new to London or looking for a change.
If you’ve ever wished you could find a property, speak to the landlord and secure the tenancy all in one place then Qoob is the app for you. Removing the need for estate agents, Qoob handles everything within its mobile platform and has been created by physicists at the London Institute – so you know you’re in safe hands.
This platform is ideal for private landlords looking to reach a wider audience as it allows you to list your property on portals such as Zoopla and Prime Location, traditionally limited to estate agents. Not only do you have their team on hand to help you pull together adverts, Propoly also provides a dedicated customer service team to hand any booking requests.
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