Carrying out plenty of research is essential when it comes to buying property, and it seems that a growing number of house hunters are using the internet to do their homework. Research from Slater and Gordon Conveyancing Works shows 58.5 per cent of people now use real estate websites to research potential properties.
Women are more inclined than men to use the internet for research purposes. The findings showed 61.7 per cent of women and 56 per cent of men have used this method at some point in the past.
“Real estate websites are becoming increasingly sophisticated, allowing people to highly define what they’re looking for in terms of price, location and amenities, it means they don’t have to sift through lots of unwanted stuff to find exactly what they want,” noted Slater and Gordon Conveyancing Works lawyer Robert Kern.
He also revealed that people are attracted to just how convenient the internet is. They can research their next home while sat on public transport, or even during their lunch break at work.
Web-based searches aren’t only confined to younger people hoping to secure their first home loan. The figures shows that 35 to 44 year olds are the most likely to head online before approaching a real estate agent or booking a viewing.
Only 11 per cent of those polled said they would directly approach a real estate agent, while 7.9 per cent would take a look in the window of an agency. Just 5.5 per cent revealed they would be likely to drive around in search of for sale signs.
It could be new properties that buyers are most likely to research at the moment, as figures from the Housing Industry Association point to a rise in new-build sales. In November last year, seasonally adjusted new home sales were up 2.2 per cent from the previous month.
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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.