House prices have been rising without a rhyme or reason for years, however, there aren’t enough properties to buy and a majority of the properties don’t mee the government standard. However, the ever evolving landscape of property technology is providing digital solutions to the property and real estate scene. The average house in England is costing 9 times the amount over the average salary and so affordability is a major issue in this crisis. The spiralling price of property has encouraged entrepreneurs from proptech and fintech to come up with solutions that make ascending the first rung of the housing ladder more realistic. That means getting a mortgage agreed. When sales can happen without hindrance, the rate of houses becoming available would likely increase. This approach is becoming a fast-growing sub sector of proptech called iBuying.
Will Proptech fix the spiralling housing crisis in the UK?