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Australia’s obsession with real estate – and the fact that the $7.8 trillion real estate market is our largest asset class – has spurred massive growth in PropTech across the industry. Highlighting this, data from Unissu indicates that there has been over USD$300 million in funding invested across the Australian real estate technology sector since 2011.

As you’d expect with that level of funding, Proptech startups are launching daily in Australia, covering the full, holistic circle of the property lifecycle. Whether it’s renting, buying, management or selling, the domestic Proptech ecosystem is increasingly comprehensive – and competitive. 

With the writing well and truly on the wall, having an understanding of how real estate is being shaped by the emergence of Proptech will help those in the industry get out in front and leverage it to their advantage. 

Proptech Funding in Australia

According to data from Unissu, the amount of capital allocated to the Australian Proptech sector since 2011 has reached an impressive $339 million. Showcasing staggering growth, in 2018 alone there was in excess of $119 million invested across the space, equating to double the amount invested in 2017. 

As the size and scale of these funding deals has increased substantially, the number of deals being done is decreasing. This means that the spend per deal is increasing, with the average deal amount in 2017 being $1.3 million while in 2018 it jumped to $10.1 million.

Where is PropTech Capital being Allocated?

Protechs are focussing on both the B2C and B2B custom segments, with many startups gaining traction across both. Research conducted by Unissu shows that B2B startups are still attracting the bulk of the funding at 54% of the capital allocation. Meanwhile, when it comes to the residential and commercial real estate sectors, residential is attracting the majority of capital with 61% of funding.

Who are the PropTech Companies?

At Business2, we’ve sorted through the various providers in the domestic sector in order to develop a 2019 Australian PropTech Map. 

In creating this PropTech Map, we have identified and positioned 188 companies within an ecosystem of 4 key categories that encompass the Rent-Buy-Lease-Manage property lifecycle.

australian proptech

The Categories:

  1. Agent & Property Value Research – For sellers and buyers this is the start of the journey towards a transaction as they perform their research. Most companies in this space are B2C.
  2. Property & Investments Search – This is where the property lifecycle starts for tenants and where buyers and sellers will conduct transactions. Most companies in this space are B2C.
  3. Agent & PM Services, Listings & Marketing – These are the tools agents and PMs use to perform their services, including managing properties. Most companies in this space are B2B.
  4. Exchange, Finance, Mortgage, Settlement & Post Transaction – This category utilises technology to provide an efficient process when completing the transaction. Companies involved here are both B2C and B2B.

Our Australian PropTech Map illustrates that the Agent & PM Services, Listings & Marketing category is highly competitive and very saturated. Technology in this category is entirely B2B focussed and very well funded, due in large part to the push to help real estate professionals become more efficient and profitable. 

Funding will continue to be allocated here, but the Exchange, Finance, Mortgage, Settlement & Post Transaction category has been gaining a lot of attention. This sector has largely been forgotten in relation to technological innovation and is still transacting the same way it was 50 years ago. 

Startups like Amazon, Netflix and Uber have had an enormous impact on consumer experience and expectations. All indications signal that the consumer-focused trends these companies have sparked will spread throughout the real estate industry, making for a more streamlined, simpler and enjoyable customer journey. 

What’s Next?

Following on from this article, we will explore the PropTech accelerators across Australia to find out who is helping our real estate startups grow.

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35 Comments

  • Simon Cookes
    Posted September 19, 2019 at 4:56 pm 0Likes

    Do you include surveying, architectural design and planning into PropTech? (I do. Some do, some don’t.) Design is a major factor in the success of property. If you agree, you should check out http://www.larki.com.au. Second place in recent PropTech summit.

    • Ryan O'Grady
      Ryan O'Grady
      Posted September 21, 2019 at 6:50 am 0Likes

      Hi Simon, yes we can and thanks for bringing this to our attention.

  • Tomasz Dorawa
    Posted September 19, 2019 at 9:18 pm 0Likes

    Hi Guys,
    I
    Is it too late to add us to your amazing MAP :)?
    We are the biggest Virtual Tours provider in Australia for Real Estate.
    Who could I talk to get us on to your database 🙂

    • Ryan O'Grady
      Ryan O'Grady
      Posted September 21, 2019 at 6:50 am 0Likes

      Hi Tom, no problems we will update the map this week.

  • Jonathan
    Posted September 20, 2019 at 8:29 pm 0Likes

    Great write up and just what the industry needs to track the growing proptech scene! Thanks for adding sohoapp.com

    • Ryan O'Grady
      Ryan O'Grady
      Posted September 21, 2019 at 6:30 am 0Likes

      Hi Jonathan, no problems and great work with Sohoapp.com it is a great new model to transact real estate.

  • Kevin
    Posted September 22, 2019 at 7:21 pm 0Likes

    Hi Ryan,
    we are not included either. Can we be added to your updated map? http://www.linktosale.com.au

    • Ryan O'Grady
      Ryan O'Grady
      Posted September 25, 2019 at 12:55 pm 0Likes

      HI Kevin, sorry we didn’t know about your portal. WA needs more competition so happy to add you.

  • Kate Chalk
    Posted September 23, 2019 at 5:47 pm 0Likes

    A fantastic map that gives a great overview of the Proptech space, thank you for taking the time . We are RESO and sit in the Agent services and depending on the state legislation the exchange space , we would love to be included on your new Map , if possible ?

    • Ryan O'Grady
      Ryan O'Grady
      Posted September 25, 2019 at 12:55 pm 0Likes

      Hi Kate, thanks for reaching out. We will include you in the next update.

  • Chris Spanos
    Posted September 23, 2019 at 8:47 pm 0Likes

    Hi Ryan,

    Would it be possible to add IDS to your incredibly useful PropTech Map – https://www.ids.io

    We probably best fit into the Property Research section, as we are a B2B provider of AVMs, indices, etc. for FinTechs and Lenders. We also specialise in statutory valuations for government, which is our niche in the Australian PropTech scene.

    It might be useful to expand ‘Property Research’ into ‘Property Research & Valuations’, as this better describes the PropTechs in this category.

    Chris.

    • Ryan O'Grady
      Ryan O'Grady
      Posted September 25, 2019 at 11:58 am 0Likes

      Hi Chris, thanks for the comment. Your organisation looks great and it makes sense to add to the ecosystem map. We’ll add it to the next version of the map when it is updated in a few weeks.

  • Glen Byrnes
    Posted September 25, 2019 at 3:30 pm 0Likes

    My company is SMPN “Sell My Property Now” and we are in the ‘for sale by owner’ demographic.
    Regards, Glen

    • cleaning8888
      Posted November 13, 2019 at 12:57 pm 0Likes

      As one of the leaders in the ‘no agent’ space for the past 7 years, we look forward to being in your next Pro Tech Map release.
      Glen

  • Trevor Bragg
    Posted October 2, 2019 at 11:50 am 0Likes

    Great article Ryan and well done on the PropTech Map. Amazing how many providers there are. Impressed with your segmentation and visual. Well done.

    • Ryan O'Grady
      Ryan O'Grady
      Posted October 2, 2019 at 12:48 pm 0Likes

      Hi Trevor, thanks for the feedback. We’ve now updated the map with a few other startups that we missed. We’ll continue to perform research over the next couple of months and will evolve the map and release another version at the start of next year.

  • Rhys
    Posted October 3, 2019 at 9:20 pm 0Likes

    Great work mate

  • Josh Kohlbach
    Posted October 17, 2019 at 10:03 am 0Likes

    Hey Ryan,

    Would love to have us included as well! Jigglar.com fits under the agent services and marketing space 🙂

    Thanks in advance and thanks for producing such a great graph of all the companies in the space! Must have taken a lot of time and research!

    • Ryan O'Grady
      Ryan O'Grady
      Posted October 17, 2019 at 7:43 pm 0Likes

      Thanks Josh, we’ll get you added to the next version of the map.

  • Frankie
    Posted November 11, 2019 at 2:36 pm 0Likes

    Hi Ryan, I’ll join the crowd in complimenting you on the map ! Do you have this in a list format that you could share ? see, I’ve been doing research on the proptech ecosystem in WA and trying to read some logos is tricky…anyhow I am from SPUR, powered by Landgate (the WA government land info authority) and we are involved with local proptech startups through our annual grant program and we are looking at being more active in the sector in the near future…Thanks

    • Ryan O'Grady
      Ryan O'Grady
      Posted November 12, 2019 at 9:25 pm 0Likes

      Hi Frankie, thanks for reaching out. We don’t have a list available at present but we are currently compiling a more extensive list of Australian Proptechs along with additional information such as location, team size, funding etc. We should have this directory ready after Xmas. In the meantime here is a link to a better version of the app https://www.business2.com.au/2019-proptech-ecosystem-map

  • Daniel Peterson
    Posted November 13, 2019 at 9:24 am 0Likes

    Ryan we are the number 1 new property search portal in Aust ibuildnew.com.au. Would be good to be included. You should also look at including a sister company of ours Landchecker. There are several listed that no longer exist or are quite immaterial. Happy to chat if you’d like.

    • Ryan O'Grady
      Ryan O'Grady
      Posted November 13, 2019 at 1:42 pm 0Likes

      Hi Daniel. No problems, we’ll add you to the next version of the map.

  • Matt
    Posted November 15, 2019 at 2:35 am 0Likes

    Hi Ryan,

    Great thread, thanks for the deep dive. Are you familiar with any companies in the off market / land screening / land search space?

    I would imagine its an offshoot of 2. Property & Investments Search. Would really appreciate and advice or direction here.

    Many thanks
    Matt

    • Ryan O'Grady
      Ryan O'Grady
      Posted November 17, 2019 at 6:09 am 0Likes

      Hi Matt, maybe try archistar.ai or landchecker.com.au they are the 2 I can think of.

      • Matt
        Posted November 26, 2019 at 3:48 am 0Likes

        Thanks Ryan. Whats your email address? I have a few further questions if you wouldnt mind ?
        Regards
        Matt

  • James Isbell
    Posted November 20, 2019 at 9:14 pm 0Likes

    Hi Ryan, Great article and a terrific infographic. Are you able to advise how you view IoT plays eg Smart Building ISVs and infrastructure players eg Equium etc

    • Ryan O'Grady
      Ryan O'Grady
      Posted November 21, 2019 at 7:57 am 0Likes

      Hi Grant, good question. I see 2 clear areas of the PropTech space. Core PropTech which this map highlights the companies and then RealTech/ConTech which covers “How we plan, build, and interact with real estate”. We’ll be publishing article exploring this topic in the coming weeks.

      But IoT is huge in the RealTech area and the focus around Smart Homes/Buildings. All the major tech companies Apple, Google, Amazon, Panasonic, Sony etc are investing heavily in this space. Just look at Google’s investment in the first Smart Suburb in Toronto (topic for another article). A lot going on!

  • Ben
    Posted November 25, 2019 at 9:49 pm 0Likes

    Hi Ryan, would be great if you could add Rental Heroes We are in the Property Management section – an AI-virtual assistant (aka chatbot) that liaises with tenants in natural language to handle common questions and maintenance requests.
    Thanks, Ben
    Rentalheroes.com.au

    • Ryan O'Grady
      Ryan O'Grady
      Posted November 30, 2019 at 1:52 pm 0Likes

      Hi Ben, no problems we will reach out early 2020 when we start to prepare the latest version of the map.

  • Joshua Nguyen
    Posted November 27, 2019 at 1:26 pm 0Likes

    Great map Ryan, that’s one decent ecosystem we’ve got here! Look forward to seeing future versions to come.

  • Frank Leigh
    Posted November 30, 2019 at 3:31 pm 0Likes

    Hi Guys

    Have you heard about RealEstateInvestar ?
    ASX listed with a big user base.
    Should be on the list in my view.

    Thanks
    Frank

  • Jesse Lee
    Posted December 8, 2019 at 12:48 am 0Likes

    Fantastic map Ryan. I can recommend a few potential additions to the list: Sortedservices in connection services, venturecrowd in crowdfunding, Nexu in data/analytics and propertease in property research.
    Thanks,
    Jesse

  • David Berridge
    Posted December 11, 2019 at 12:03 pm 0Likes

    Great article and Industry map. Loving the content coming through, keep up the great work Ryan

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