UK house buyers are increasingly turning to the Internet to look for properties and find the best mortgage deals, according to the latest survey commissioned jointly by Halifax and the House Builders Federation.
Over a third of the total prospective homebuyer population surveyed have used, or intend to use, the Internet to obtain information about the property market.
Almost half of people planning to move in the next three years have access to the Internet for their personal use. Of those with access, around half of men and over a third of women have used the Web to get property information.
The online property market looks set to take off, with over half (56%) of prospective house buyers with access who have yet to use the net to get property information intending to do so before they move.
House buyers regard the Internet as a quick way of getting a feel for the types of properties and prices available without having to visit an estate agent or housing development. "It gives them the opportunity for an armchair preview of what's on the market," states the report.
Online access is seen as a particular boon for people who are intending to move to a different area, especially long-distance. They are able to get an instant overview of current availability in their chosen area.
The wealth of mortgage information available on the Internet is considered extremely useful. Survey respondents like the idea of being able to key in their requirements and be presented with their best mortgage options. People believe they can also get better deals on the Internet.
However, there is still a widely held belief that it is important to see a mortgage adviser to talk things over.
The survey also records widespread interest in using the Internet to find suppliers of home furnishings and appliances, in the hope of saving money, along with links to other Web sites to contact tradespeople such as plumbers, carpenters and painters to carry out repairs and alterations.