Property innovation council launched

A new expert council has been launched by Housing Minister Esther McVey, which will support technological innovation in the property sector.

The new expert advisory council will be dedicated to the digital transformation of the property sector, advising ministers on how to support and grow the sector further, which will make it easier and cheaper to plan, build and buy new homes.

Visiting the Geovation offices in London, which hosts some of the leading tech start-ups spearheading innovation in the UK property sector, the minister met entrepreneurs to discuss how the government can help turbocharge the way in which technology is used to build and sell property across the country.

Property entrepreneur Faisal Butt, founder and CEO of Pi Labs, a venture capital firm supporting others to innovate in the PropTech sector, will be the first expert to sit on the minister’s new council. He said: “I am thrilled to be advising the Housing Ministry to achieve our common objective of helping UK Proptech start-ups thrive.

“In bringing together the best and brightest minds in PropTech globally in a strategic and coordinated way, we can begin to make the UK the global epicentre of PropTech excellence I know it can be.

“The government and the private PropTech sector working together will help propel PropTech start-ups to a meaningful international scale, and we think this initiative is exactly the type of fuel the UK PropTech ecosystem needs to achieve its full potential.

Housing Minister Esther McVey MP said: “We’re taking every advantage that new technology has to offer across the entire house building and house buying journey. Whether that’s finding a plot of land, getting planning permission, engaging the local community, getting the property built or selling or buying a house.

“The people behind PropTech are using technology to make the process faster, simpler and cheaper. This new industry is digitally transforming the whole of the property sector, putting much more information at the public’s fingertips.

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