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News & opinion

1 JUL 2022

June highlights in data and technology

There are various initiatives across the UK market looking at driving the digitisation of residential property data for a variety of use cases, and my article for the World Built Environment Forum (WBEF) outlines the current activities, the benefits of digitisation, and the impact this work will have in the UK and across other international markets.

The use of Automated Valuation Models (AVMs) extends beyond the familiar context of mortgage lending and in these articles, with one of our Tech Partners Holistic AI, I explore how their use in the iBuyer business model caused significant problems and argue for the involvement of qualified human property professionals in their development and use.

Data and technology have the potential to fuel radical and positive transformation. But in my article for WBEF I discuss what risks remain, and what must change before the benefits of data can be realised?

Once again, June’s video discussions ranged far and wide, covering construction, auctioneering, property rentals, building operations, and an overview of the global Proptech landscape.

The auction process has become increasingly digital, and whist technology has been used for decades to provide auction data, the pandemic has driven a step change in adoption.  David Sandeman of Essential Information Group spoke with me to discuss the history of technology adoption in the auctioneering sector and how auctions themselves have now entered the online world.

Construction sites need to be safe and productive, and their locations can often prove challenging when using traditional communication technology.  Chris Hall, Jade Legray-Wise and Saahil Dossani from Onwave described how remote wireless technology can deliver accurate and reliable services quickly, even in the most remote of sites.

The extraordinary events of the last couple of years combining the pandemic, and the war in Ukraine, have had profound effects on many people’s lives and are now impacting the financial markets and the monetary policies of both advanced and developing countries.  As the effects of inflation and rising interest rates impact the valuation of Proptech and other early stage and start-up technology firms, Ivo Van Breukelen from The Proptech Connection and I discussed the impact on the sector in in the context of investment.

RICS’ new International Building Operation Standard (IBOS), represents a new approach in measuring and managing building performance for people, through data, and Michael Grant of Metrikus outlines how data and technology can help set the balance between sustainability, cost, and occupier satisfaction.

Transacting in the rental market can represent a frustrating and slow process for all concerned, and Ahmed Gamal from Rentd explains how the use of data and technology can help landlords and renters to enjoy a quick, cost effective, and frictionless experience.

 

Andrew has been with RICS for over eleven years, and prior to his role in leading the data and tech thought leadership and data standards function, managed RICS’ relationship with the finance and investment community working with debt and equity participants, their advisors in law and accountancy, and regulators. In his current role, Andrew is responsible for data and tech thought leadership and content development, and the adoption of the RICS Data Standard (RDS) that supports valuation, property measurement, life-cycle costing, building performance, brokerage, and due diligence.