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Buyers thirsty for property information

Buyers thirsty for property information

by Reporter 0 comments

Brendan Wong

Homebuyers are thirsty for property information and will research everything they can when preparing to purchase a property, according to new research.

Realestateview.com.au surveyed 8,451 Australians to find the top five preparation rituals of buyers purchasing property, and the top five pieces of information they wanted access to when researching.

The survey revealed the top two ways buyers prepare to purchase a property were by conducting their own research on everything possible - from finance and local amenities to house prices - and attending open inspections.

Talking to friends and family to gauge their opinions and experience with buying and/or the market was last in the top five list of information sought by all buyers, except first home buyers.

In terms of the information buyers wanted most while searching for a property, recent sales, auction results and median house prices topped the list. Seasoned investors also placed importance on historical values.

The only exception was the first home buyer group, which prioritised legal information about buying or selling a house, and home loans over recent sales. They also valued tips and advice for buying.

Crime statistics was ranked number three in the top five information needs of buyers, but safety was more of a concern for homebuyers than investors. On the other hand, crime statistics did not make the top five lists for first-time and seasoned investors.

General manager of realestateview.com.au Petra Sprekos said the survey showed people wanted a lot of information and were spending time researching before they engaged a real estate agent.

“The implication for the real estate industry and portals like us is that we need to make sure we are out there in the digital sphere because our consumers are," she said. 

“Everyone is online and what’s also important is that people switch devices. They’re on mobile, they’re on iPads browsing websites and apps, and they’re on desktops, so when we are out there we need to make sure our information is available through all of those multi-screens.”  

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