Are virtual tours still a thing in the post-pandemic property market?

Research finds that a measly number of homes for sale are being marketed with a virtual tour

Are virtual tours still a thing in the post-pandemic property market?

Demand for homes that are marketed with the use of virtual tour technology remains high, research by estate agent media provider Giraffe360 has revealed.

Virtual tours are a relatively new marketing tool that provided a vital platform for potential homebuyers during the pandemic when lockdown made physical viewings difficult.

The market analysis by Giraffe360 suggests that virtual tours are still an effective tool in the post-pandemic market when it comes to converting homebuyer interest.

In fact, 59% of all homes listed on the market with a virtual tour have already had an offer made on them, or have sold, subject to contract.

Despite this, virtual tours remain a scarcity in the UK market and the figures from Giraffe360 show that of all current homes listed for sale, just 4% are being marketed with the additional draw of a virtual tour.

Read more: Mortgage tech accelerates – and it’s here to stay.

Middlesbrough is home to the highest availability of virtual tour property listings, where 21% of all listed properties are being marketed with the help of the technology.

In Liverpool, virtual tours account for 20% of all properties, and are also popular in Belfast (19%), Huddersfield (19%), Leicester (18%), Manchester (17%), and Glasgow (15%).

Virtual tours also account for 10% or more of current market listings in Swansea (14%), Edinburgh (14%), Sheffield (14%), Birmingham (12%), Northampton (10%), Newcastle (10%), and Nottingham (10%).

Mikus Opelts, chief executive at Giraffe360, said virtual tours are a powerful marketing tool that bridge the gap between the limited insight available from an initial property listing and the physical viewing itself.

“They can dramatically streamline the viewing process as potential buyers can really get a good feel of the property and if it’s right for them, before embarking on a viewing in person. Hardly surprising then, that homes with a virtual viewing within their online listing are in high demand, but despite this, adoption by the property sector remains low,” he said.

“As technology has advanced, the quality, ease and affordability of implementing virtual viewings has also improved and with home sellers now expectant of the very best exposure for their home, there’s no excuse for agents not to offer these additional services as part and parcel of their proposition.”