Research: 86% of movers would consider a smart home
June 29, 2023
Findings from a survey carried out by Samsung and the analysis of UK Google search results reveal the overarching themes that are permeating consumer conversations regarding smart technology in the home.
The survey of 1,000 adults looking to move home (buy or rent) in the next five years, combined with the analysis of Google search trends between March 2022 and March 2023, showed six key insights:
- Consumers want smart technology and will pay a premium for a smart home – 6.5 per cent more than the average house price in the UK
- Customers are prioritising energy efficiency – 71 per cent said energy efficiency is a key factor when considering a smart home
- Ideally, new build developments should be smart tech optimised to attract the modern buyer – a third are drawn toward new builds as they think they will be pre-fitted with smart tech
- Almost 40 per cent of Gen Z buyers want their next property to be a smart home
- Smart Energy devices lead the online search categories when compared to lifestyle, home and security – half of all UK smart tech searches featured the phrase ‘smart energy’
- Device compatibility is key – 81 per cent said it is “important” tech is compatible and works seamlessly with current device
With 35 per cent of respondents saying they would be “much more likely” to go for a home if it was fully equipped with smart tech, and just over a third say they would move into a home without smart tech but would retrofit it later, the importance of this technology becomes clear. One in ten said they would only move into a house with smart technology.
Almost nine in ten (88 per cent) of those planning to buy or rent in the next five years would consider a new build property, with nearly half of those doing so because the homes are likely to be energy efficient. Searches for ‘energy efficient new build homes UK’ doubled between March and April 2023.
Movers are keen to step into a home which is set up to suit their technological needs – with 86 per cent saying they would consider a smart home when searching for their next property. The appetite is clearly there, with people being prepared to spend 6.5 per cent more for a fully equipped smart home – which would add more than £18,000 (€20,900) to the average house price of £285,000.
Thinking specifically about which devices are most attractive to consumers in the home, the majority chose a smart meter or smart TV as the most popular device. In a breakdown of UK Google searches in April 2023 for smart devices across four categories: Energy, Lifestyle, Home Appliances, Security, it is smart energy devices that stand out as the strongest category (50 per cent searched this category).
According to Samsung, it is clear that concern around the cost of living and environmental impact is growing in importance. Technology relating to energy efficiency is highly sought after with 29 per cent saying they would like an air source heat pump in their home, which again was in the top three searches for smart home products after a smart meter, and before a heat pump tumble dryer. Almost three quarters (71 per cent) said energy efficiency is a key factor when considering a smart home and more than half (56 per cent) say it will save them money.
“These results have shown that there is a real opportunity for the construction industry to answer the technology requirements of the modern consumer, to build homes that are future fit, to give buyers smarter, more efficient and better-connected properties that stand the test of time,” commented Mark Seaman, Head of New Business Development at Samsung UK.
“That’s why, over the past few years we’ve been focused on building partnerships across the construction industry to strengthen our collaborative approach to meeting the needs of home buyers. Adopting a consultancy mindset, we have proven experience partnering with clients from the planning stage through to completion to ensure the right smart technology is applied to developments. We’re helping shape the homes of the future – creating smarter spaces that are powered by technology and have the potential to benefit everyone.”
“As a proud partner of Samsung, we are pleased to see this kind of evidence supporting our experience of the consumer desire for smart technology in the home,” added Mark Zwerner, Vice President Global Strategic Partnerships at ABB.
“Our jointly developed interconnected solutions for energy management, the smart Internet of Things (IoT) connection, and home automation allow users to easily manage their homes via one single app, touch panels, or Smart TVs. As a major leader in innovation, Samsung also supports our vision of providing owners and operators with a fully connected solution to manage all units within a larger property.”