Samsung’s Smart Home Buyers Index has revealed that 86% of movers would consider smart homes when choosing their next property, and be willing to pay up to 6.5% more for it, which equates to £18,000 on the UK average house price of £285,000.
The survey of 1,000 adults looking to move home (buy or rent) in the next five years and the analysis of UK Google search results was carried out by Samsung, a leading collaborator in the building industry, who’s result can provide valuable insight for developers as to how best meet the purchasing demands of the modern consumer.
The key findings from the survey were:
Consumers want smart technology and will pay a premium for a smart home – 6.5% more than the average house price in the UK
Customers are prioritising energy efficiency – 71% said energy efficiency is a key factor when considering a smart home
Ideally, new build developments should be smart tech optimised to attract the modern buyer – a third are drawn toward new builds as they think they will be pre-fitted with smart tech
Almost 40% of Gen Z buyers want their next property to be a smart home
Smart energy devices lead the online search categories when compared to lifestyle, home and security – half of all UK smart tech searches featured the phrase ‘smart energy’
Device compatibility is key – 81% said it is “important” tech is compatible and works seamlessly with current devices
With 35% of respondents saying they would be “much more likely” to go for a home if it was fully equipped with smart tech, and just over a third say they would move into a home without smart tech but would retrofit it later, the importance of this technology becomes clear. One in ten said they would only move into a house with smart technology.
Almost nine in ten (88%) of those planning to buy or rent in the next five years would consider a new build property, with nearly half of those doing so because the homes are likely to be energy efficient. Searches for ‘energy efficient new build homes UK’ doubled between March and April 2023.
Thinking specifically about which devices are most attractive to consumers in the home, the majority chose a smart meter or smart TV as the most popular device.
The survey shows that concern around the cost of living and environmental impact is growing. Technology relating to energy efficiency is highly sought after with, 29% saying they would like an air source heat pump in their home, which was in the top three searches for smart home products after a smart meter. Almost three quarters (71%) said energy efficiency is a key factor when considering a smart home and more than half (56%) say it will save them money.
Mark Seaman, head of new business development at Samsung UK, commented: “These results have shown that there is a real opportunity for the construction industry to answer the technology requirements of the modern consumer, to build homes that are future fit, giving buyers smarter, more efficient and better-connected properties that stand the test of time.”
“That’s why, over the past few years we’ve been focused on building partnerships across the construction industry to strengthen our collaborative approach to meeting the needs of home buyers. Adopting a consultancy mindset, we have proven experience partnering with clients from the planning stage through to completion to ensure the right smart technology is applied to developments. We’re helping shape the homes of the future, creating smarter spaces that are powered by technology and have the potential to benefit everyone.”
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