Property: Predicted real estate trends for 2022, including the use of virtual objects in homes.
AT THE BEST OF TIMES, JUDGING THE HOUSING MARKET IS HARD.
However, a real estate expert has shared his predictions for 2022 real estate trends.
Home prices soared in 2021, with new figures indicating that more than half of all UK homes will have increased in value by a whopping £15,000 during the year.
Since the end of the first lockdown in March 2020, the housing market has gone from strength to strength, with a surge in sales driving average prices to new highs.
Housing trends are expected to have an impact in 2022, according to one real estate expert.
Matterport’s MD EMA, James Morris-Manuel, shared his predictions for property trends in 2022.
Brokerages will rebrand as real estate technology companies, according to James.
“The rebranding process will take place in order to attract more listing agents and consumers,” he said.
“In order to make their brokerage a one-stop shop for customers, brokerages will want to white label software to be folded into their suite of services as part of the evolution through 2022.”
“The incentive for brokers is that it will help them establish themselves as trusted advisors by highlighting their capabilities, as well as increase their margins by arranging ancillary services as part of their work.”
Another trend James expects to see this year is the inclusion of digital twins in home ownership.
A virtual representation of physical objects is created using digital twin technology.
It can assist homeowners and buyers in comprehending the structure and making decisions.
“The home is the most expensive and important asset that many people will ever own,” James said, “and many would want to get as much value out of the property as possible.”
Homeowners might want to map out where they want to make improvements.
“Homeowners will want a digital copy of their home in 2022 as house prices continue to rise, so they can analyze potential domestic improvements or carve out areas for improvement,” James continued.
“One example could be painting the walls of the digital replica a different color to test it out before putting it in the real house.”
“A plumber, for example, might use digital twins to figure out the best way to remodel a bathroom.”
Another trend predicted by James is that the government would be lobbied.
“Brinkwire News in Condensed Form.”