The Future of Home Buying
Great article posted by HSBC - very informative!
New technologies are poised to transform the way people buy a home, according to HSBC’s international study on home ownership, Beyond the Bricks. Technology is already changing the way home buyers approach each of the three key phases of home buying – researching, financing and purchasing. And the change is accelerating fast, with significant implications for consumers and the property industry. Funding of disruptive property technology (PropTech) firms has grown phenomenally, from USD221 million in 2012 to over USD2 billion in 2016¹. PropTech is becoming the new FinTech (financial technology) and will bring similarly radical changes over the coming years. This is a snapshot of some of the key research findings from HSBC’s survey of 1,000 people in Canada with insights from a leading international property technology expert, James Dearsley. It explores how property technology will affect each phase of the home buying process. There are also some practical tips on how home buyers can make the most of new technologies.
