- The Australian proptech sector has grown considerably since it was first mapped in 2019
- A new Australian proptech map identifies the largest categories
- The sector is expect to continue to evolve and provide new solutions within the next two years
The Proptech Association Australia has released a new map of the national proptech ecosystem that showcases the dynamic growth of the sector.
First mapped in 2019 by BusinessNow, the Australian proptech sector was initially identified as having 188 startups, largely in the residential sector for sales, marketing and property management.
Since then, data reveals that the proptech ecosystem has grown 2.5 times.
Proptech Association Australia President and Founder Kylie Davis says the 2023 Australian Proptech Map shows just how diverse and extensive the proptech sector is and how active it is in solving the problems related to buying, selling, renting, building and managing property.
The creation of the 2023 Australian proptech map took over a year to complete and was a collaboration between Proptech Association Australia, ProptechBNE and REACH Australia.
“The sector has grown from 188 proptechs back in 2019 to 478 solutions that we were able to identify today and this shows the health of the industry and the important work that proptechs are doing to solve the myriad pain points that exist across all aspects of property and housing,” she said.
What the map identifies
So far in 2023, property and facilities management is the largest category with 77 proptechs.
This is followed by:
- 73 in sales and marketing
- 72 that address efficiency and optimisation issues
- 65 in consumer proptech
Emerging categories show 58 proptechs in the environment, social and sustainability sector, and 47 are solving ownership, affordability and finance problems. Forty-six exist across design, build and development proptech and 37 in data, AI, analytics and insights.
Continuing to evolve
“We were constantly being asked, ‘What proptechs are out there?’ and ‘What are our options to help solve xyz?'” Davis said.
She added, because the proptech space is growing at such a rate, it necessitated a map.
“What is evident now that it’s out there is the extraordinary range of problems that are now being solved by proptechs, which solutions are now mainstream and where the next wave of innovation is occurring.”
With the rise of AI and a wider range of sustainability solutions, Davis predicted the proptech sector will undergo another acceleration within the next two years.
“Housing affordability, supply and the better management of homes to make them more energy efficient and produce less carbon are vital issues that are consuming Australians and are the focus of government-led initiatives,” she said.
“Our members are working hard to solve these issues and we expect exciting new solutions to emerge over the next two years.”
