Smart home technology is emerging as a drawcard in the property market, with the installation of features like security systems, remote monitoring and automation now extending beyond the luxury and into the mainstream.
Australian real estate publication, Elite Agent Magazine recently explained more and more agents are beginning to see the smart home as an asset in the properties they’re marketing.
What agents are seeing
Once regarded as a luxury item, agents report smart home technology is becoming more common, especially in markets like Sydney.
Jerome Srot of Ray White Double Bay told Elite Agent Magazine smart home technology is emerging as a potential selling point, with the connectivity behind it front and foremost in people’s minds.
“We get a lot of buyers asking if a house is wired for NBN. That connectivity is becoming vital,” he said. “Most homes in the top end of the market, the $8-$10 million range, have some sort of smart automation.”
Meanwhile, the magazine also notes smart tech is also steadily infiltrating the mainstream market.
Ray White Double Bay recently marketed a $2 million unit in Bondi fully decked out in smart home tech, and also sold a smart townhouse in Double Bay to a buyer seeking out the specific features of automated security and monitoring.
“The gentleman who bought it was an expat working in Hong Kong,” Mr Srot continued.
“The home automation offered great piece of mind. He can lock up and go, irrigation is automated, and he can monitor it from afar. In that case smart technology was a big selling point.”
What experts predict from here
According to technology analyst firm Telsyte by 2021 the smart home market will be worth $4.7bn, up from $377M in 2016.
This rise will see 311 million connected devices communicating within Australian homes, meaning on average each house will have 30.7 connected devices, up from 13.7 in 2017.
Telsyte Managing Director Foad Fadaghi told Elite Agent Magazine all these devices mean connectivity and fast internet access is now a requirement rather than an optional extra – and not just in premium homes.
“It’s all about fast broadband, fit out, wiring and speed,” he said. “And the trend is moving away from just premium houses.”
He noted a current focus is on retrofitting older homes with smart home infrastructure in the knowledge that buyers will expect their property to be capable of smart home connectivity in the future.
Lera Smart Home Solutions is a leading installer of smart home technology in the greater Sydney region. Our team boasts over 20 years’ experience in IT networking, programming and the electrical industry.
We have sourced the most reliable and cost efficient solutions from around the world to provide the very best in smart home solutions, and work with our clients to understand their needs.