People turn to web to buy property

Thursday, 18 August 2005 12:00 AM

Almost two people in three now use the internet to research a property before buying and one in five would consider buying a home online, SmartNewHomes.com reveals.

A new survey by the firm finds that the majority of consumers are now using online resources to look into their options before making a purchase away from the internet.

And houses are far and away the most researched products online, with 59.7 per cent of consumers researching homes over the internet - cars are the second most research product at 46.8 per cent.

"More and more people are realising the benefits of using the internet to research and buy a multitude of products," said David Bexon, managing director of SmartNewHomes.

The survey also looks at what people would not buy online.

Around one person in three says they will only buy wine, groceries or cars offline.

However, fewer than one person in ten categorically rules out buying a property online.

"Online shopping can often give the consumer a better deal or cheaper prices and allows them to research all their options from the comfort of their home or office," Mr Bexton noted.

"That is especially beneficial with a big commitment like a house purchase and is reflected by the large number of property websites in existence.

"With tools such as virtual tours and e-brochures becoming more common place, it is only a matter of time before we see consumers buying properties directly over the internet. For buyers such as investors who purchase properties off-plan, this would not be a big leap from the way they currently buy houses, and any additional discount secured by cutting overheads equates to greater returns on their investment."

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