According to data from House Buyer Bureau, where over 900 UK homebuyers were surveyed, 54% of them said that when they came across property images that were digitally enhanced the immediately ruled out the property.
One in five homebuyers said they had looked at a property where AI images were used to make the property look better than it was in real life. 54% said they dismissed the property straight away after seeing it in reality. 38% of those asked said they offered a lower price as they felt the presentation of the property was misleading.
The enhancement reported most (25%) was making rooms look bigger. Over a fifth said that properties were made to look brighter than they actually were, and 16% said the overall condition of the property had been artificially enhanced.
Some people mentioned that there were changes to gardens, outside space and even the digital addition of furniture. There were also changes to views from the property, and some even cited that they had removed buildings nearby or visible issues such as damp and cracks.
Despite feeling as though they had been misled, 82% of homebuyers did not challenge the AI-enhanced images, with only 15% raising it with the estate agent, and 2% complaining directly to the seller.
Housing Secretary Angela Rayner has announced a new measure to protect leaseholders in England and Wales from high fees and poorly regulated property management companies.
Saturday 26th September, Andy Burnham announced a new equity loan scheme called “Your First Home”. The scheme, which will be confirmed at next month’s budget, is aimed at first-time buyers looking to purchase a new-build property from a developer signed up to the scheme.
Losing your job or finding yourself ‘between jobs’ is, unsurprisingly, a stressful place to be. Keeping a cool head and taking action is important.
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Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
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This price gap between the cost of houses and flats is the biggest it has ever been. Houses are now costing 1.7 times more than a flat, which is 0.4 times higher than 10 years ago
Take a look at our list of houses vs. flats per area.
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We have seen several lenders increase their mortgage rates over the last couple of weeks. This suggests mortgage rates are likely to rise.
Although nothing is set in stone, lender repricing, rising swap rates, and continued economic uncertainty suggest borrowers should prepare for higher mortgage costs.
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April Mortgages - only accessed via a mortgage broker - offers first-time buyers, renters, and home-movers the option to borrow up to 7 times their income on its longer-term mortgages.
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Despite the Prime Minister not yet announcing any policies to abolish or change Stamp Duty, speculation persists that this could become government policy.
Burnham, who officially became Prime Minister on Monday, 20th July, has expressed strong support for a significant reform of property taxes over recent years. He said that he will deliver “the most significant change moment in our politics for 40 years.”