Global Luxury Property Review #2 February 2013
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Global Luxury Property Review February 2013 90% buyers search online during home buying process, new study TRENDS: Google and the National Association of Realtors (NAR) published a report following a joint study called The Digital House Hunt. The principal aim of the study was to observe and provide an analysis of the evolving role of digital media in the consumer home search process. Although the study was conducted in the US, the trends it reveals are reflected globally. Among the report’s key findings was that a 90 per cent of buyers rely on the internet as one of the main search sources, and more than half (52 per cent) search online as the first step of the home buying process. The report also revealed that real estate-related search on Google.com increase by a staggering 253 per cent over the past four year, and 22 per cent over the past year.
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Butterfly Residential's monthly Global Luxury Property Review February 2013 out now. In this issue: online real estate trends, Australia, US, UK
Transcript of Global Luxury Property Review #2 February 2013
Global Luxury Property Review
February 2013
90% buyers search online during home buying process, new study
TRENDS: Google and the National
Association of Realtors (NAR) published a
report following a joint study called The
Digital House Hunt.
The principal aim of the study was to
observe and provide an analysis of the
evolving role of digital media in the
consumer home search process.
Although the study was conducted in the
US, the trends it reveals are reflected
globally.
Among the report’s key findings was that a 90 per cent of buyers rely on the internet as one of
the main search sources, and more than half (52 per cent) search online as the first step of the
home buying process.
The report also revealed that real estate-related search on Google.com increase by a
staggering 253 per cent over the past four year, and 22 per cent over the past year.
The massive importance of the need for property websites to be optimized for mobile
compatibility is highlighted by the statistic that one in five real estate searches happen on
mobile devices.
In fact Google real estate searches on mobile devices ‘grew 120 per cent from 2011 to 2012’,
according to Google Internal date, Q3 2012.
The study found that 86% of buyers view videos to find out more about a specific community
and 70% use video to see the inside of a home.
The joint study also found that YouTube is the top video research destination for property
buyers.
Full report here
Belgravia and Knightsbridge ‘stars’ of London luxury property market 2012
LONDON: Prime Central London homes sales growth hit
an average of 8.7% for 2012. The prime markets of
Belgravia and Knightsbridge were the star performers at
15%. This was revealed by latest analysis and forecasts
for the central London market of property consultant
Knight Frank.
Transaction levels for 2012 reached £18 billion with
11,900 deals contracted at an average price of £1.5
million, Knight Frank said.
James Roberts, head of commercial research, said:
“Clerkenwell, Farringdon and Shoreditch are now firmly
established as technology and media districts, and we
expect to see this momentum build with the
forthcoming 4G roll out.
Stephen Clifton, investment partner attributes
increased interest in London office investment market the improved exchange rates against
the Sterling.
"The pound has weakened further in recent weeks, which only increases the logic for overseas
investors to buy in London. Also, pricing looks attractive compared to their home markets in
many cases.
Industry insiders predict Sydney house prices could double by 2020
AUSTRALIA: The luxury property industry
in Western Australia, Queensland and
the Northern Territory is reportedly
showing signs of recovery.
Industry reports predict that house
prices in Sydney could double by 2020.
Michael Pallier, Managing Director of
Sydney Sotheby0s International Realty
told The Telegraph that Australia is
popular with foreign investors, “due to
the stable economy, strong capital
growth performance and, of course, the
lifestyle. The introduction of the substantial investment visa will also be a huge winner for
future investors.”
Last year the Australian government lowered the bar for bar for visa applications in exchange
for investment in the country.
Jobs driving boost for San Francisco’s Bay Area luxury real estate market
US: Last year was a bumper year for residential
real estate in the San Francisco Bay Area in
California, according to real estate reports.
Industry insiders say that job growth in San
Mateo, San Francisco and Marin counties
combined with a limited inventory of homes for
sale spurred on this exceptional growth during
2012 in the Bay Area.
Last year saw $117.5 million paid for a luxury
mansion in Woodside, the most expensive US
home ever, according to a report on the San
Francisco Chronicle.
In the nine-county Bay Area, 11,041 properties changed hands in 2012 with sales prices above
$1 million, up 29 percent from 2011, according to real estate service DataQuick of San Diego.
Pacific Union International said they have a “very positive outlook for Bay Area residential real
estate in 2013.”
Brought to you by Butterfly Residential
The Global Luxury Property Review is a monthly article compiled by Butterfly Residential offering a snapshot of the
sector. Butterfly Residential is a boutique, professional, high-end property company specialising in Marbella,
London and Barbados in sales and rental of luxury property. Butterfly Residential is headed by Edward Fairless and
Nicola Fairless, a brother and sister team who are the new sensation in the global luxury property sector.
Address: Avd. Ricardo Soriano 72, Edf. Golden, Portal C, 2º H, 29601 Marbella, Málaga, España
Email: [email protected]
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Skype: butterflyresidential
