Last Updated on: 25th October 2024, 06:51 am
The UK is currently facing a significant housing shortage, with government plans calling for the delivery of over 300,000 new homes each year.
While policy reforms have been introduced to address this pressing need, the property sector has traditionally struggled to adopt technologies that could help meet these goals—until now.
Searchland, a London-based PropTech firm, has launched the UK’s first AI-powered Land Sourcing Assistant, which is reshaping how developers find and assess land for housing projects.
Mitchell Fasanya, CEO and Founder of Searchland, believes AI could be the key to a property revolution:
“The property industry has always been slower in adopting new technologies, particularly in the planning and development stages. With land teams more stretched than ever, we recognised the need for a tool that could boost efficiency.
“An AI programmed specifically to support housebuilders and developers is crucial to streamlining the entire land assessment process and focus on delivering homes faster.”
Traditionally, sourcing land has been a labour-intensive process, requiring developers to physically search areas, liaise with landowners, and rely on informal contacts.
These manual methods lead to delays, slowing down housing development. Searchland’s AI Land Sourcing Assistant, however, promises to change that.
With conversational prompts, the AI can respond to requests like, “Find sites larger than 10 acres with no prior development,” or more complex searches, such as, “Find 5,000 sqm sites, free from planning constraints affecting residential permissions, within five miles of a settlement.”
The AI scans vast amounts of land and property data in Searchland’s database, providing suitable land options within seconds.
“While Searchland has been a reliable tool for land sourcing for several years, setting the right search criteria has always required specific knowledge,” Fasanya explains. “Our AI assistant removes that barrier by using the vast amount of data in Searchland’s system to identify opportunities developers may not have even considered. It simplifies the search process and pinpoints ideal parcels of land.”
By automating the initial search process, Searchland’s AI allows developers to locate potential sites more quickly, moving efficiently from acquisition to construction.
“AI is more than just a tool; it’s a game-changer,” Fasanya asserts. “With our AI assistant, developers can discover land opportunities faster, meaning we can accelerate the housebuilding process. We aim to help the industry meet government targets and ensure more people can access homes.”
For further information on Searchland and its AI Land Sourcing Assistant, visit https://searchland.co.uk/.
