Tech partnership unlocks market-first 'comparables' data for property developers
Proptech firm LandTech has partnered with property data business Hometrack to utilise the latter’s data to deliver the latest capital and rental comparables within its product suite.
In what it called a market-first technology partnership, LandTech said its developers could now financially appraise, plan and develop properties with the most up-to-date valuation estimates and comparables data.
“Our mission since our inception nearly a decade ago, was to use data and technology to power every element of property development, and this collaboration brings this goal that much closer,” commented Jonny Britton (pictured), co-founder of LandTech.
“We’ve always excelled at planning and workflow, and our Hometrack partnership, employing their data will deliver unparalleled comparables data – whether for long term investment, resale, or rental yields.”
Landtech’s partnership with Hometrack also removes the challenges of Land Registry’s 13-month lag in registration of half of all new builds, allowing developers to obtain the latest new build comparables, including pound per square foot. This enables developers to accurately price and calculate the gross development value of a site, likely sales rates, and other key metrics.
Ross Allan, director of property data solutions at Hometrack, in a post announcing the partnership, stated that they were constantly striving to improve their offering for customers and the partnership with LandTech enabled them to provide best in-class data and insights to developers.
“We look forward to working closely with LandTech to deliver this and much more to our customers in the coming months and years,” Allan added.
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