UK homebuyers show strong interest in smart homes, survey reveals.
New research from Samsung Electronics Co. (UK) Ltd. reveals a growing interest in smart homes among prospective UK homebuyers.
The study found that 86% of people looking to move within the next five years would consider a smart home and are willing to pay an extra £18,000 for properties equipped with the technology.
Why it matters: This increased appetite for smart homes signals a shift in buyer preferences and highlights the importance of integrating modern technology into residential properties.
It also reflects growing consumer concerns about energy efficiency and environmental impact.
The Key Points:
- Based on a survey of 1,000 adults looking to move in the next five years and an analysis of Google search trends from March 2022 to March 2023, consumers are willing to pay up to 6.5% more than the average UK house price for a smart home.
- Energy efficiency emerged as a priority, with 71% citing it as a critical factor when considering a smart home.
- A third of potential buyers were interested in new builds and expected these homes to come with pre-installed smart technology.
- About 40% of Gen Z buyers are looking for a smart home in their next property.
- Smart energy figured prominently in half of all UK smart technology searches, leading to other categories such as lifestyle, home, and security.
- Device compatibility was considered essential by 81% of respondents, who value seamless integration with their existing technology.
Nearly 90% of respondents said they were considering new-build properties, mainly because of the expected energy efficiency.
Searches for "energy efficient new build homes UK" doubled between March and April 2023.
The Big Picture: The survey points to the evolving demands of homebuyers, suggesting a significant opportunity for the construction industry to respond.
As energy efficiency and cost savings become increasingly important, integrating smart technology into homes considerably influences home-buying decisions and is likely to shape the future of the UK housing market.