Housing Minister Esther McVey has unveiled a new expert advisory council dedicated to the digital transformation of the property sector.
The new Proptech council will advise ministers on how to support and grow the sector further, aiming to make it “easier and cheaper to plan, build and buy new homes”.
The news follows an announcement in October 2019 that signalled the minister’s intentions for a digital revolution in the property sector.
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 new council.
McVey 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.”