Using virtual tour tech to market and sell homes increases their value by more than £14,000, according to research from virtual property viewings platform U-See Homes.
Research from TwentyCi has revealed that virtual tours add an average of 5.6% to the sale value of a house and in lettings can add 8.5% to monthly rental income for landlords.
In the UK sales market, the average home now comes in at £256,405. Using virtual tours to market a home of this value could increase the price achieved by £14,410, bringing the overall sold price to £270,815.
Simon Dempsey, head of marketing for U-See Homes, said: “The added value that guided virtual tours can offer to both homeowners and landlords is evident but they’re only able to utilise this technology if their agent of choice offers it. However, our previous research found that just 4% of homes listed for sale across the UK’s major cities make use of virtual viewings tech.
“There is now the ability to deliver unrivalled real-time guided viewing experiences online, without compromising on traditional face-to-face interaction. In turn, this will save time, money and increase viewing potential, the technology is now so simple to set up & use, small points of difference now will pay huge dividends in the future.
“Higher selling and rental prices mean a greater degree of income for the agent and so it’s surprising that so few of them are using virtual tours, given that the cost of acquiring the technology could soon be earned back through the additional income generated.”
The more valuable a property, the more valuable virtual tours become.
Home sellers in London, where the average house price is the highest of all UK regions (£500,310), could utilise this technology to add £28,117 to the value of their home.
The North East of England has the UK’s lowest average house price of £145,893, but despite this, virtual tours could still add £8,384 to the value of the average home in the region.
Across the UK, the average monthly rent currently sits at £997. By using virtual tours to market these properties, landlords can add £85 to their monthly rental income.