The global lockdown hasn’t stopped Aussie’s from looking for their next buy with over 2 million digital inspections completed across the country since the lockdown began.
Australian Real Estate Investors have never been the ones to let a hurdle stand in the way of opportunity and the Real Estate industry jumped quickly as lockdown measures were enforced to ensure that was possible. Agents across the country embraced technology to offer virtual inspections and online sales processes to ensure the surprisingly stable Property Market kept turning.
NSW has seen over 1 million digital inspections, Victoria 800,000 and QLD 700,000 according to numbers from Realestate.com.au. As restrictions gradually ease the success and popularity of virtual walkthroughs, 3D tours are likely to keep the practice an industry staple, giving potential buyers an efficient way of getting a better look at a potential property than photographs can offer.
Especially in the case of inter-state purchases, the new use of existing technology that has emerged from the pandemic is certainly going to make purchasing decisions much easier on long distance buyers. The changes that have happened in only a couple of months have dramatically fast-tracked the so called Industry 4.0 revolution.
New Age of Hassle-Free Purchasing for Australian Investors
Despite the vast negative impacts of COVID-19, one lasting benefit will be the efficiency in which Real Estate purchases will be able to be made thanks to technological infrastructure and processes that are now in place. Savvy investors who rely on a diversified portfolio in a number of thriving and emerging markets across the country are already benefiting from more detailed walk-throughs and virtual tours that allow them to make more calculated purchase decisions without lengthy and pricey travel.
Virtual tours seem to be only the beginning of a new age of digital property investing as industry leaders look to add more value to buyers through online education initiatives including virtual consultations and webinars designed to fill the gap left by face to face alternatives. Many in the industry believe a lot of these practices will remain as they give potential buyers more options and information without consuming as much time as the “old-school” way of operating.