The future of property

5th December 2016

As the world is constantly evolving and issues such as climate change come to be at the forefront of our minds, it is unsurprising that many elements of everyday living begin to change. Architecture is one of the industries which has seen a massive amount of change in recent years as consumer needs change and environmental issues come into play. As these changes come into play the property industry as a whole has adapted in order to keep up with a range of different elements which were not taken into consideration by home buyers until very recently. So what does the future of the property industry look like?

One idea which has really seen a spike in popularity are flat-pack homes. These factory-built houses are often at the cutting edge of architecture and far more affordable than traditional self-builds. Many of the designs can be assembled within days, rather than months, making the whole process a lot simpler. It seems that these designs have become popular due to their unique style, the ability to feel that you have built your very own home to your own requirements and also the ability to fit a lot of elements into a small space. This last point has become increasingly important in the UK where space is at a real premium, especially in London.

Another change that is likely to become mainstream is the introduction of detailed performance labels. Whilst most homes nowadays fit into an energy bracket which highlights their efficiency, new labels have been introduced which now contain a lot more information. These labels will explain the cost per square metre, the running costs, storage and how much daylight the house gets. This will help buyers to understand exactly what they are buying in order to make a real investment for the future. These labels will also highlight how environmentally friendly a house is, further than the current tags do, which is also likely to decrease the carbon footprint of new builds.

It is not just the homes themselves that are changing but also the property industry as a whole. The growth of the technology sector is set to overlap into property with the introduction of virtual viewings. Using virtual reality technology it is now possible to look around your dream property as if you were really there. This will be inordinately useful to buyers who have a long list of potential properties but neither the time nor energy to look round them all or for those who are looking to invest overseas. This technology is set to change the face of the property industry and while it looks unlikely that virtual tours will ever completely replace tours in person, it will be interesting to see how the tech changes the industry.

Tony Freeman
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