Case Study

Australian-founded start-up, Proppie, is Australia’s first mortgage-sharing matchmaker platform, which is shaking up the real estate industry with the launch of a new and innovative platform that targets millennials and enables two or more users to share ownership of a property. Proppie provides a game-changing solution to the ongoing property affordability crisis, enabling both first-home buyers and experienced investors to enter the property market.

Proppie matches users based on their budget, property location and preferred “piece of the property pie,” taking the hard work out of finding and purchasing a house, unit, or apartment, with flexible contribution splits and the added security of a legally protected co-ownership agreement – so there are no awkward conversations or negotiations!

What’s more, prospective homeowners and investors can enjoy a variety of benefits, unique to Proppie, including:

  • The freedom of rental security (no more requests to vacate) and long-term occupancy with a tenant who cares about the property as if it is their own (because it is!),
  • The security and benefits of co-ownership with your partner, friends, siblings, colleague, or child, without the tough conversations around finance arrangements and legalities,
  • A legal framework for what happens if a payment isn’t met or a party wants to sell,
  • Access a lawlab conveyancing for legal advice and to hold your hand every step of the way, and
  • The ability to work your way up the property ladder in half the time with half the risk.

What makes Proppie different is its ongoing support through the journey of purchase. Proppie takes the hard work out of finding a co-owner, matching users with users based on their property compatibility, securing purchases with a legal agreement through to settlement, and makes it possible for each owner to sell their share of the property when they choose, separately.

Our partnership with Lawlab – industry leading innovators in digital conveyancing - allows Proppie to maintain our exceptional standard of customer service and to provide comprehensive legal security throughout one of the most important transactions in one’s lifetime. Lawlab’s streamlined and secure digital service is designed to save you time and reduce stress across many different aspects of the property transaction. All communications with their experienced legal professionals are delivered straight to your mobile device, along with 24/7 access to all documents, updates and messages throughout.

As the Australian market continues to see rising property prices, many Australian millennials are faced with deposit costs of six figures or more. Proppie aims to create a world where renters and owners are equal, helping millennials to get into the property market sooner.

Female founder and entrepreneur, Ayumi Uyeda, established the platform to help millennials get into the property market.

It wasn’t until my millennial stepdaughter confided in me that purchasing a property alone was near-impossible that I realised I had to do something about it and build Proppie,” Ayumi said. “It seemed crazy that this hadn’t been done before.

Setting up a way for millennials to co-own with the full legal protection as they get in and out of property is a critical enabler for this to work, and with lawlab’s expertise and digital journey, we found a perfect partner to help us to normalise the model and give millennials the stepping stone they need to access property”.

Proppie has integrated lawlab’s digital conveyancing journey into its offering at a national level in order to be able to provide all Australians a seamless property journey from finding your perfect home to a smooth settlement.