Andy Sommerville, Director at Search Acumen, comments:
“Brexit has obviously introduced a great deal of uncertainty into developer’s order books as fears grow over buyers getting cold feet and supply chains being disrupted. However, the trend for the decade since the financial crisis is one of anaemic growth where demand outstrips supply.
“Amongst this generally lacklustre background there are sparks of hope, especially in the field of property technology. Housing Secretary Esther McVey just last week announced bold plans to bring the housing and building sector into the 21st century. In particular, she has called for brownfield data reforms that’ll help builders find prime, cost-effective land for development.
“Of course, technology alone will not solve Britain’s housebuilding problem: we need the right political and commercial incentives in place as well. However, knowing where to build and improving the efficiency with which we buy and sell will be an essential part of any solution.”