Statistics Canada’s recent release revealed that investment in residential real estate has exceeded investment in all the other sectors for the first time since 1961. That is as long as this data has been recorded.Real estate is a major economic driver in our economy. It represents the greatest source of retirement wealth for most Canadians, and it is the largest purchase that most of us will ever make. It also impacts intergenerational wealth as it is estimated that more than 40% of new purchases are aided with parent-gifted down payments. December housing prices for GTA are at all-time record. PropTech offers much needed improved efficiencies to the Real Estate sector.How does the advent of Property Technology change the game for real estate investors? Forbes’ Bernard Marr outlined 6 trends of property tech to keep an eye on. One of the trends he highlighted is the use of big data. The central aspect of big data is its phenomenal capacity for predictable analytics. PropTech companies use statistical algorithms and machine learning techniques to transform massive amounts of historical and real time variable data with increasing velocity into future insights.To make the most well-informed decisions, investors must have access to masses of variable data on a large scale and ability to process that data in order to identify and exploit patterns found in historical and real time transactions.&nbsp;Sounds like a grueling and unrealistic scenario for any individual investor, but a very worthy task for a PropTech company.The availability of complex analytics would provide investors with their own crystal ball, allowing for the best risk and opportunity assessment. How well properties are selling in your area? What property features and utilities are in demand and how could that trend change in years to come? What are the major demographic growth areas in the city? Who are the main investors in this area? Big data in real estate allows for the tracking and modelling of different attributes, answering the pertinent questions, and leading to the most informed investment strategies. With the ever growing complexity of Canadian real estate market, the use of analytics is a no-brainer for many investors.PropTech is a driving force behind many positive changes in Real Estate industry. It offers first time buyers and savvy property owners alike the benefit of using predictive analytics when evaluating specific real estate transactions.&nbsp;PropTech serves to empower investors and helps them achieve their investment goals.Trulia and Zillow are great examples of that. They help users reach an ideal property match, whether you are a buyer, a seller or a renter. Sellers can benefit by being matched with a professional agent, one who knows your area well.How will PropTech influence the future of the industry?&nbsp;The world around us is constantly evolving and Real Estate industry is no exception. The future belongs to the resourceful investors who take advantage of progressive tools such as property technology.&nbsp;

How PropTech is Changing the Way We Invest in Real Estate

The Canadian Real Estate Association reports that the average price of a Canadian home reached $748,450 in February, which was a 21% increase YOY. Major cities such as Toronto are the outliers far exceeding the average price. Cities in Ontario experience some variation in value, but the average property price in Toronto has reached a whopping $1,242,793 while in Hamilton we see properties priced anywhere from the mid $900K to a million. Vancouver is currently the most expensive city which $1,255,200 average price of a home.

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