SOUTH AFRICA - More than 70% of initial property searches in South Africa now start online – a trend that’s quickly eclipsing the appeal of static photos.
According to FNB's latest residential property and consumer insights, search habits have changed dramatically, spearheaded by a digital-first generation that spends up to 70% more time online than its predecessors.
In alignment with global as well as national demographic trends, reports by Meltwater and We Are Social show that South Africans spend roughly 9.5 hours online per day on average, placing the country near the top of global screen-time rankings. And the majority of that activity occurs on mobile devices.
“While buyers generally spend just 20 to 25 minutes on a physical walk-through before deciding whether or not to make an offer, their online searches are far lengthier,” says Paul Stevens, CEO of Just Property. “When you consider that those younger than 35 now account for 69% of all first-time bond approvals in South Africa – a group that’s grown up in the digital interactivity environment - it stands to reason that these tools are now a critical element of home shopping.”
Renovation hesitation is a thing
Considering that upfront deposits now average from R150,000 for first-time buyers and R285,000 across the broader market, Stevens says buyers are increasingly cautious about committing to unbudgeted cosmetic upgrades.
“Having paid a substantial deposit upfront, the cost of then making alterations can be daunting. This creates what’s often referred to as 'renovation hesitation'- where prospective buyers pass on homes with incredible potential because they can't see past dated paint, tired floors, and old fixtures. Interactive tools allow them to test their own colour combinations, superimpose finishes, and work out budgets before making an appointment to view the property person.”
Two versions of one home
To this end, Just Property has partnered with Roomvo, an international, AI-driven visualisation platform that’s already operating in more than 150 countries. Stevens explains: “Roomvo uses augmented reality (AR) technology that allows users to compare custom finishes against the original photo in seconds. Unlike basic virtual staging that drops generic digital furniture and countertops into a photo, Roomvo uses actual products that they can buy in South Africa. The benefits extend to sellers and landlords, too, by increasing online engagement and the time spent on listings, which in turns accelerates the viewing pipeline.”
According to the FNB Residential Property Barometer, more than half of listed properties take upwards of three months to sell, he continues. “Global e-commerce and real estate data shows that when shoppers or buyers can interactively visualise a product or space in real-time, conversion rates increase by up to five times compared to static photos. In the context of real estate, price isn’t the only reason that a property doesn’t move quickly - appearance can be just as critical.”
Online buyer interest peaks within the first 14 days of a listing going live, and when a home doesn’t inspire during this crucial two-week window, it can quickly go stale, he says. “Home décor tools can move buyers from asking 'Could I live here?' to 'How would I make this mine?'”
The goal of this new technology isn't to replace human decision-making or physical viewings, Stevens emphasises. "It’s about giving buyers the visual confidence they need to take the next step."
