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The toolkit, designed and released by Proptech Association Australia, identifies nearly 500 different products, start-ups, and established companies across the sector.
Encompassing 478 emerging and established players, the map highlights the rapid progression of the Australian proptech industry in recent years with the sector reportedly 2.5 times the size it was in 2019.
Kylie Davis, president and founder of Proptech Association Australia, said the map showcases “how diverse and extensive the proptech ecosystem is and just how active the sector is in solving the plethora of problems across buyers, selling, renting, building, and managing property”.
Back in 2019 there were 188 proptechs operating across the nation, with Ms Davis believing the industry’s current stock “shows the health of the industry and the important work that proptechs are doing to solve the myriad of pain points that exist across all aspects of property and housing”.
According to the Australian Proptech map 2023, property and facilities management proptechs is the dominant category within the sector, boasting 77 proptechs, trailed closely by the 73 in sales and marketing and 72 that address efficiency and optimisation issues.
Ranking in fourth place is consumer proptech, which boasts 65 entrants, followed by proptechs in the environment, social, and sustainability sector, 47 in solving ownership, affordability, and finance problems, 46 target design, build, and development proptechs, while 37 specify in data, artificial intelligence, analytics, and insights.
Ms Davis explained previously constant questions her and the association received, including “being asked ‘What proptechs are out there?’ and ‘What are our options to help solve XYZ problem?’ and ‘Help us understand the proptech space because it’s growing so fast’,” were primary motivators behind the map’s creation.
The process took over 12 months and involved collaboration between Proptech Association Australia, which is the sector’s peak body, ProptechBNE, and REACH Australia.
“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,” she said.
Even with the three main contributors to the project collectively pooling their knowledge, Ms Davis admits the scope of the sector’s size could possibly be unrecognised at the moment.
“It’s very probable that there’s even more out there and we encourage those proptechs to get in touch so we can include them in future editions,” she said.
While the proptech industry’s recent growth may be hard to replicate, the constant digitalisation of society taking shape presently and moving into the future, specifically in relation to advancements in AI and an emphasis on sustainability solutions, Ms Davis believes the next two years will see the sector’s growth accelerate.
“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 explained.
“Our members are working hard to solve these issues and we expect exciting new solutions to emerge over the next two years,” Ms Davis concluded.
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