Technology ‘to transform house purchases’
Prospective house buyers could soon be able to use new digital technology that weighs up key metrics before purchasing a property.
Housing minister Esther McVey wants to usher in a digital transformation of the property sector, which would also link builders to brownfield sites.
Buyers would be able to use commute-time calculators when they are looking at properties, and receive assistance with the buying process.
The digital service would also help buyers explore financing options to help them afford their new home or facilitate gradual home ownership.
Esther McVey, housing minister, said:
"It's time to revolutionise the way in which we buy homes, and new technology will modernise the way we buy and sell land and houses.
"Whatever homebuyers prioritise, whether it's the quality of local schools, the probability of getting a seat on a train, or having easy access to leisure facilities, this technology could transform the way we find and purchase homes."
While this technology could enable homebuyers to make better-informed decisions, there may still be tax implications to consider when moving home.
Talk to us about property taxes.