PropTech Predictions for 2019?

Ruth_MaguireRuth_Maguire Administrator admin

Inspired by the chat from @JamesDearsley @LuciaBautista @DarryllColthrust @GavinJGallagher @DavidGraydon @EddieHolmes about PropTech Resolutions for 2019 I'd like to hear what your PropTech Predictions are for 2019? What will we see more of, what will begin to fade away? What companies/solutions will do well, which ones could struggle? Will we see more PropTech/Property integrations and collabs? Interested in your thoughts! If we get some good comments on this then I'd like to turn it into an article with some of your quotes included.

Comments

  • We will see more and more property and asset managers focusing seriously on occupier engagement and well-being. 2019 will see the start of spaces also being seen as services and its ability to drive tangible value. For tech providers it will become the norm to offer these services as part of a complete package. Those big commercial and residential providers that take this trend seriously will come to see these as part of their competitive edge and will see real added value.

  • James_Dearsley1James_Dearsley1 Administrator admin

    2019 is both the year of muted trousers but also a more grown up look at PropTech. Here are a few from me.

    1. More ancillary service providers getting more and more interested in PropTech and trying to find a service. Lawyers, Consultants, Bankers etc etc
    2. More and more events discussing this subject matter
    3. Consolidation in the US, UK and some European markets - through M&A and/or companies closing
    4. Transparency of some markets becoming more open; China, Russia - part of where Unissu should help we hope
    5. More M&A everywhere as people realise that their businesses are very similar to others in different geographical regions
    6. Less VC funding in terms of volume but potentially similar or increased in terms of amount (more later stage deals)
    7. much more talk but we do need some more case studies.

    There you go. Some basic thoughts from me.

  • Ruth_MaguireRuth_Maguire Administrator admin
    edited January 10

    Great predictions there @GabriellaCrawford . I agree that Space as a Service will be taken more seriously this year and be seen as a way to bring added value.

  • Interesting article by Mike DelPrete,'Rich First Mover Advantage', maybe the door is ajar for Purplebricks to only strengthen!? Axel Springer, the $6 billion European media house, is going "all in" with online hybrid agents, through its investments in Purplebricks and Homeday. http://www.mikedp.com/articles/2019/1/08/axel-springer-goes-all-in-on-hybrid-agents.

  • BTW, best of luck with the platform, its great. I can only see positives for the whole industry to learn and grow.

  • Eddie_HolmesEddie_Holmes Administrator admin

    Thanks Michael, we are very grateful for your efforts to help get the discussion and the community going!

  • I think you will see more tech companies building solutions focused on the commercial real estate industry due to the market opportunity around digital, data and AI. This move will help to accelerate the pace of innovation within the industry.

  • Tom_MasonTom_Mason Member

    Would a slow down in the housing market cause more of a problem for traditional agents or online agents like PurpleBricks?

  • Eddie_HolmesEddie_Holmes Administrator admin

    Traditional will feel it first @tommason because they are already undercapitalised and fragmented, plus still working largely on success fees. Whether it will affect PB (and frankly they are the only online agent in the UK worth mentioning) depends on whether their market penetration has stalled or if they can keep growing it to offset any drop in volume.

  • In terms of the UK residential lettings market, I think PropTech will have a huge influence on the market this year - especially with the upcoming tenant fee ban and recent legislation impacting landlords. Landlords will soon be seeking alternatives to high street agents to circumvent price hikes. I believe the digital/hybrid model and other PropTech companies will offer more cost-effective solutions and streamline management for landlords. Regardless, I think PropTech adoption will only continue to grow as landlords become accustomed to technological solutions.

  • Ruth_MaguireRuth_Maguire Administrator admin

    Great to hear lots of different perspectives - keep the predictions coming!

  • Ruth_MaguireRuth_Maguire Administrator admin

    Last chance to get featured in our 'PropTech Predictions' article on Unissu! What is your forecast for the year ahead? Get commenting if you haven't already!

  • Eli_McgeeverEli_Mcgeever Member
    edited January 23
    1. Industry consolidation - we'll see some mergers, some players drop off and others dominate.
    2. More integration - proptech is very fragmented and I feel it's hard for the end users to combine the tools that benefit them into a fully functioning ecosystem
    3. Further growth - 2018 was a great year for recognition and I think 2019 will continue this.
    4. Emergence of smarter (AI) solutions. A lot of awesome companies were finding their feet in 2018 and will really come into focus this year.
  • Ruth_MaguireRuth_Maguire Administrator admin
    edited January 27

    The PropTech Predictions article has now been published! Really interesting to have your take on the year ahead and some of your comments and quotes have been included, so take a look here - https://www.unissu.com/resources/proptech-influencers-predict-the-trends-for-2019

  • Eddie_HolmesEddie_Holmes Administrator admin

    Well Precition #1 has come true quickly! #3 looking safe so only #2 in the limbo

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