Virtual House Hunting set to change the Real Estate Landscape

laptopWhile physically inspecting a property before purchase remains the norm in 2016, a report on future trends in the real estate sector predicts house hunters will be buying up homes from the comfort of their living room – using virtual reality.

House inspections prior to purchase will become less frequent over the next decade, as virtual reality will allow prospectors to examine three-dimensional replicas of properties for sale.

The report, produced by UK based analysts, Future Laboratory, was produced through a series of interviews with leading technology and property experts who were asked to, considering the latest technology trends, predict how UK’s Real Estate sector would change in the next decade.

Virtual reality – a long discussed concept, has finally made serious strides in the last decade, with considerable investment and R&D put towards headsets such as Oculus Rift and HTC Vive.

Rob Ellice, CEO of easyProperty, explains how VR use is already in it’s infancy in the Property Sector.

“A small group of affluent buyers are taking virtual tours of luxury homes – it won’t be long until these tours will move into the mainstream property market.”

He believes that VR will be used for initial viewing of multiple properties, with the purpose of efficiently whittling down the buyers options.

Glen Maguire, CEO of Auckland based search engine optimization company, Clickthrough, has worked closely providing digital marketing for a number of NZ based property developers and real estate agents. He comments,

“The age of the smart phone has ushered in the expectation of instant gratification – the quick fix. When operating online, users want a quick, simple solution, virtual reality use in house hunting is the natural progression to this”.

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