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High-tech house hunting

Saturday, 10 August 2015

The rise of technology has made purchasing real estate easier than ever before - from identifying the right property and being able to view it without setting foot out the door, to calculating your estimated loan repayments on the spot at an open inspection.

People are increasingly attracted by the effectiveness and convenience created by new technologies to research and transact at a time and location that suits them, 24 hours a day, seven days a week.

There are some great online resources provided by local real estate firms, including handy Twitter feeds from both individual agents and agencies to ensure people have up-to-date property information, news and suburban trends at their fingertips.

Similarly, when it comes to financing, people are increasingly choosing online too.

Australians are among the world’s fastest adopters of digital banking technology, with new research by Bain & Company revealing that 38 per cent of customers’ transactions with their bank in 2014 took place via a smartphone or tablet, up from 22 per cent in 2013.

Our customers have access to a range of tools at their fingertips that can translate into real purchasing power. Easy to use online loan calculators give an indication of how much you can borrow, calculate the stamp duty you’ll pay, and even identify the suburbs where the median house price most closely matches your budget, along with annual growth rates.

Other innovations such an app that connects customers and bankers at the press of a button, in addition to real-time local access to specialist advisors using video technology in many branches now enables personalised service for more complex transactions once you’ve done the basics yourself.

So while finding the right home or investment property still requires plenty of legwork, new technologies are certainly making it easier by allowing you to make faster, more informed decisions on the go.