Online services increase house sales

14 May 2013

Property purchasing in South Africa is being driven by a younger generation that relies on the Internet for information, bond originator ooba said on Monday (13 May).

Its research showed that the average age of first-time property buyers was 33 and that of people applying for an ooba bond was 37.

Chief operations officer Rhys Dyer said in a statement that most of this younger market had used e-mail addresses for a large part of their adult lives.

"[They] have used search engines over any other reference tool when they're looking for information, have Facebook profiles, and interact with friends and brands on Twitter.

"Naturally, when considering buying a house, the Internet is the first place they'll look," Dyer said.

The company's online bond affordability calculator recorded a 28% increase in page views in the past year, compared with the previous year.

Bond applications through ooba's website increased by 48.6% in the first quarter of 2013, compared with the previous quarter.

Dyer said this was significant growth, even when an improved property market was taken into account.

"Because of this, we've made sure that our website offers increased visibility and navigability for our clients," he said.

Since at least 39% of urban South Africans used their cellphones to browse the Internet, ooba had created a mobile version of its website to cater for this market.

Estate agents also increasingly used online services and social media to market properties.

"A personal referral from a friend is still the most likely way for an estate agent to gain business, but now 'personal' can mean digital, and 'friend' can mean any of your Twitter followers," he said.

The company offered a service for clients to chat online with home finance experts during business hours.

Clients could make their home loan applications face-to-face, telephonically, or online.

Source: Sapa via I-Net Bridge

Source: I-Net Bridge

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