The UK PropTech Association (UKPA) has called on the Chancellor to maintain investment in digitising the UK’s planning system, emphasizing its potential to drive economic growth and support the goal of building 1.5 million homes by 2029.
As part of its Spending Review submission, made in collaboration with the British Property Federation (BPF), UKPA advocates for:
- Expanding the PropTech Innovation Fund to include planning system digitalisation and greater AI deployment.
- Increasing funding access for early-stage PropTech firms to address investment concentration in later-stage companies.
- Committing to bi-annual reviews of the PropTech sector to track emerging opportunities and technological advancements.
The upcoming Planning and Infrastructure Bill, designed to improve efficiency and modernise planning processes, presents a key opportunity for integrating digital solutions. UKPA highlights that AI-powered planning casework could maximise existing resources, enhancing productivity across the sector.
The BPF supports this initiative alongside its broader push for increasing the number of planners beyond the 300 pledged by the government, allowing planning departments to recover costs and reinvest in infrastructure.
PropTech Investment: Time and Cost Savings
UKPA’s findings underscore the tangible benefits of PropTech adoption, reporting:
- 72,000 hours saved per 1,000 property transactions.
- £527 million in annual public sector savings through improved resource efficiency.
- 3% annual reduction in CO₂ emissions via smarter planning and property transactions.
Sammy Pahal, Managing Director of UKPA, stated:
“Technology and data have the potential to address national challenges faster, more efficiently, and cost-effectively while driving long-term growth. The Spending Review must recognise the UK’s leadership in PropTech innovation and support the digitalisation of the planning system to ensure continued progress.”
With PropTech at the forefront of planning reform, UKPA urges the government to sustain investment in the sector, ensuring a more efficient, modern, and sustainable property market.