PROPTECH-X ‘Proptech & Property News’ Weekly Roundup: Addland | what3words | OpenBrix | TDS | Help me Fix

Addland integrates what3words to provide the most accurate site assessments.

Addland, the largest dedicated land platform, making it easy to find, research buy, or sell land, has activated what3words across our service.

We are laser-focused on delivering the most accurate land assessment data. And now we’ve made it easy to find or research any piece of land quickly when you’re out and about.

Say hello to accurate site assessments

When out assessing a site or property, simply use a what3words location to identify where you are and use it to search within research on Addland. You’ll be taken to the relevant land polygon, together with all the associated data.

Does a flood zone intersect the land? Where does the public right of way cross? How close is Ancient Woodland? All these answers are at your fingertips to make an initial assessment. And for professional members, instant access to local planning, valuation, ownership and terrain data. Down to the precision of a 3mx3m square.

Say hello to accurate land finding

In addition to postcode or location, you can now search by a precise what3words location to identify if there is land for sale in your immediate area.

Andrew Smith, Chief Customer Officer, says: “We’re constantly forging ahead with functionality to enhance our customers’ lives and make land easy. Seamless integration of what3words means that wherever you are, you can access relevant land data in seconds, confident in the knowledge that all data is associated with the official Land Registry land polygon and powered by trusted sources.”

Say hello to Adddland free for 3 months

Tell us one of the 3 closest land considerations to this what3words address pin makes.land.easy and we’ll enter you into the draw to win one of three Addland Professional memberships for 3 months.

T&C’s: All draw entries must be received by 31st August 2022. Three winners will be selected at random to win an Addland Professional membership for 3 months. Current customers will have their account credited.

Addland. Making land easy.

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TDS backs OpenBrix with strategic partnership and investment

TDS, The Dispute Service, has made an investment in OpenBrix, agreeing a licensing deal for the blockchain-based property portal’s new venture, tlyfe, an app which will launch throughout the UK this year.

Not only has the deposit behemoth invested in the venture, but it has also signed a strategic partnership with the property portal to distribute the tlyfe app to tenants using TDS.

Leading up to the launch, the two companies have worked closely to develop the features set for inclusion in the app.

Adam Pigott, CEO at OpenBrix:

“This is an exciting day for OpenBrix. Our team has worked tirelessly to develop the technology needed to better serve the property sector. We can’t wait to share it with tenants across the UK.

“Having a distribution deal and strategic partnership with TDS will bring tlyfe to potentially millions of tenants. With their expertise in the PRS, and our industry leading technology, we believe we can connect all elements of the property market.”

Steve Harriott, Group CEO at TDS:

“We’re thrilled to be partnering with OpenBrix to help develop tlyfe, an exciting new tenant app to help tenants manage their deposit and their renting experience. The investments we make are all about driving innovation, and ultimately making life easier for our customers.

“We’re really looking forward to working with the team at OpenBrix to put tenants across the UK in control of all their property needs using tlyfe.” 

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Help me Fix: Property maintenance now costs 27% of rental income

New research by Help me Fix has revealed the current cost of maintaining a property, shining a light on the proportion of rental income needed to keep a property fit for purpose.

The maintenance platform, helmed by Ettan Bazil, has stated that the average annual cost of maintaining a property in the UK is now £2,864. Its research shows that this is a 4.7% increase since the start of 2022. Contributing factors are increasing material and service costs.

Perhaps unsurprisingly, London has the highest maintenance cost, at £5,379 per year.

In the East Midlands, the cost has increased by 6% since the start of the year, the highest percentage increase across the UK.

The average rent in the UK is between £13,000 and £14,000, so using Help me Fix’s numbers, 21.2% of rental income is required to maintain a rental property. In the East of England, maintenance costs total 27.3% of the average annual rental income, closely followed by the South East (27%)

Ettan Bazil, CEO and founder of Help me Fix: “With inflation currently at a forty year high, the cost of maintaining a rental property has climbed by quite some margin since the start of the year alone. However, for many landlords and professional rental management firms, the escalating cost of materials has long been an issue.

“At the same time, the pandemic restrictions imposed during the numerous lockdowns have really shone a light on tenant welfare when it comes to the quality of accommodation. With the likes of the build to rent sector also driving standards upwards in this respect, it’s no longer acceptable to subject a tenant to subpar living conditions.

“So while maintenance costs are now swallowing a considerable chunk of a rental property’s earning potential, it’s a necessity that simply can’t be ignored.”

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House Buyer Bureau: The best and worst performing UK property markets of the last five years

According to House Buyer Bureau’s findings, the South East is the region with the best overall performance, with an annual average of 143,886 homes sold per year. This is closely followed by the North West with 110,437 sales per year, and then Scotland with 101,885.

The research also points to Birmingham being a hotspot for UK home sellers – 12,179 properties on average are sold in Birmingham each year.

Other areas with a strong showing are Leeds (11,726), Glasgow (11,579) and Edinburgh (11,369) all making the top five.

House Buyer Bureaus research indicates that the worst place to sell your home is the City of London, with a measly average of 201 homes per year sold across the City in the last five years. This will come as no surprise to many in the property professions.

Chris Hodgkinson, Managing Director of House Buyer Bureau, commented: “The pandemic property market boom has pushed house prices and transaction levels to record highs over the last two years, but a period of unprecedented boom doesn’t necessarily reveal where the best performing pockets of the housing market are.

“When also taking into account a prolonged period where the market underperformed due to political uncertainty caused by Brexit, we can see which towns and cities have put in the strongest and most consistent performance over a longer period of time.

“That isn’t to say that those areas to have seen the lowest level of sales volumes aren’t desirable, but it highlights the diversity of the market and how one area won’t necessarily enjoy the same boom period as another.

“This is an incredibly important consideration when looking to sell your home as these granular levels of market activity and the prices achieved locally are the factors that will impact your chances of selling, not the benchmark set by the UK average.”