UK real estate industry builds on technology with above average investment in IT


UK real estate industry builds on technology with above average investment in IT

Business Focus is a weekly column providing at-a-glance statistics and commentary on spending priorities and trends in particular sectors. This week we look at the real estate industry.

Estate agents and commercial property developers are showing an appetite for IT spending slightly above the average for all UK industries.

While the industry has its roots in small, local agencies, the trend over the past 10 years for consolidated national chains, together with mortgage and financial services companies entering the market, has seen an increased sophistication in the use of IT.

This trend has combined with improved availability and usability of customer relationship management systems. CRM applications can be connected with online gazetteer services offered by the Land Registry and other mapping services.

Smaller real estate firms spend about a third of the amount that larger organisations invest in IT.

SMEs’ spend was, on average, £3,616 per seat compared to £8,695 per seat in larger organisations.

The analysis is based on Computer Weekly's badabase of more than 60,000 IT budget holders, twice yearly user IT expenditure surveys, CBI/Kew senior executive surveys, government surveys, government demographic data, HM Treasury economic forecasts and Cambridge Econometrics industry sector forecasts.

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