It’s the news that would bring a big smile to the faces of property owners in NSW and Victoria – Sydney and Melbourne house prices are set to be growing at more than 12 percent per annum by mid-2020, according to an ANZ forecast report.
In July, we wrote about growing property industry sentiment and how it marked a positive sign for the Australian economy. Today, economists believe this change in sentiment, along with cuts to interest rates, will boost Sydney and Melbourne dwelling prices over the next few months.
Between 2012 and 2017, housing prices rose significantly. Sydney saw a 75 percent jump, while Melbourne saw a 58 percent increase before the market turned, falling 15 percent and 11 percent respectively until June this year.
While the predicted price rise will bring good news for sellers, it will be the opposite for buyers, who will have to pay more to buy or rent a home.
Given this, buyers will be looking for value in their purchases – people want more “bang for their buck” if they’re going to pay a higher price.
Increasing home value with smart technology
When investing in a home, people “look for comfort and security” as well as resale value. Smart home technology delivers a range of benefits, both monetary and comfort wise. Regardless, every benefit has an impact on the value of a home.
According to technology research company, Telsyte’s Managing Director Foad Fadaghi, smart home technology is a selling point and people are willing to pay more for it.
With house prices going up, buyers will be forced to accept rising prices, which will lead to a willingness to invest more in a smart home due to the long-term value it delivers, instead of paying less for a home with little to no smart technology. Even in markets like Perth and Brisbane, who are seeing little movement in house prices, smart home technology can assist in raising the rental or sale price of a home.
This bring us to Quantify. If you’re going to install smart home technology, why us? What makes Quantify better than other smart home solutions?
We make every living space better in a few ways, but there’s one key feature specifically worth noting. Our stylish qDevices have a modular design, which is now patent protected in 12 countries, including Australia and the United States.
Quantify’s future-proof modular design allows for the product to adapt to a customer’s future needs, where instead of replacing the whole switch or dimmer, only the feature card needs to be replaced as communication standards or customers’ needs evolve. In other words, unlike competitors, there’s no need to rip and replace our technology as times change, thus delivering a better long-term experience and a lifetime of value to customers.
When you take into account the long-term value our solution delivers and the fact that we are two to three times cheaper than competitors overall (cost-effective installation and minimal ongoing maintenance), we have a product worth investing in.
By having a mass-market product that will increase the value of a home and deliver long-term benefits, we have the best chance of meeting our strategic goals, to maximise sales nationally and secure distribution internationally.