Almost half of those people looking for a property are using mobile devices such as smartphones, tablets or other internet-enabled devices, new research has found.
The Future of Property Hunting report, which was commissioned by realestate.com.au, showed 25 per cent of property hunters used smartphones to help them with their search, while one in five relied on tablets and other internet-enabled devices.
“The growing popularity of the smartphone and rapid emergence of the iPad since its launch in 2009 is changing the way we access information,” said report author and social researcher Mark McCrindle. “We are a society seeking instant gratification due to the busy lives we lead. As a result, real estate companies are launching new products that are helpful, quick and easy to use.”
The report found that Gen Y is leading the trend, with 39 per cent using their smartphone to search for property before, with one in four Gen X’ers (25 per cent) and 13 per cent of Baby Boomers making the most of the latest property searching technology.
The Future of Property Hunting report surveyed 1,184 Australians, and focused on how technology is used now to find property and how it might look in the future.
It revealed that while Gen Y might be the most active property seeking demographic (30 per cent are monitoring the market or considering buying compared to 25 per cent of Gen X’ers and 14 per cent of Baby Boomers) and most likely to use a smartphone, age does not influence where we want to see property hunting technology in the future.
The report found that one-third of Gen Y’s (33 per cent), Gen X (33 per cent) and Baby Boomers (34 per cent) would like to access a property app that offers virtual tours and 3D walkthroughs. A further 20 per cent - evenly spread across each generation - would like the option of scanning the property billboard outside a house and taking an instant 3D tour in the future, with 19 per cent wanting to read comments left by other users on different suburbs.
realestate.com.au said it had begun this process by launching an app for iPhone, Android and now iPad.
Henry Ruiz, chief product officer at realestate.com.au, said: “The findings from Future of Property Hunting Report found that nearly all Australians believe it is crucial for real estate companies to be innovative, forward-thinking and up-to-date. We found that each generation is not after functional benefits, but emotional ones too – experiences that are engaging and enriching.
“Gen Y in particular expects to be surprised and delighted by technology, rewarding those brands that get it right with their often fickle loyalty.”