Virtual reality transforms Australian real estate market as Mirvac pioneers immersive home-buying experience
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In a groundbreaking shift for the Australian property market, real estate giant Mirvac is harnessing the power of virtual reality (VR) to transform how buyers experience their future homes. This technological evolution is set to revolutionise the way Australians buy and sell homes, offering an immersive experience that allows potential homeowners to virtually walk through properties before they are built.
Mirvac’s Harbourside Residences, located in a prime waterfront area, is at the forefront of this innovation. The development offers prospective buyers the chance to engage with their future homes through a VR experience that provides a comprehensive walk-through of off-the-plan apartments. This initiative marks Mirvac’s debut in integrating VR technology into the sales process, in collaboration with visualisation partner Blank Canvas.
Lisa Taylor, Mirvac’s General Manager of Marketing and Sales, explained the intricate process involved in creating the VR experience. “First you have to model it from an architectural point of view, then you move to a technical and architectural review within the VR headset itself,” Ms Taylor said. She further detailed the process, noting, “You do the furniture and styling, deploy it to the VR platform, install it on the hardware and then it is finally ready for testing and customer immersions.”
The initial stage of Harbourside’s release was a resounding success, with over $700 million in presales achieved in just one weekend. This prompted the Mirvac team to enhance the digital experience for the upcoming release, which will focus on three- and four-bedroom residences. The VR experience has been tailored to showcase two specific residences on level 37, offering potential buyers a glimpse into both a three-bedroom and a four-bedroom apartment.
“The response to the VR has been overwhelmingly positive,” Ms Taylor observed. “We have seen really strong engagement across all demographics of our buyers who are coming in, including downsizers and retirees aged between 60 and 70. They have all enthusiastically embraced the experience during those one-on-one appointments and at some of the larger events that we have had as well.”
The VR system is designed to be user-friendly, ensuring accessibility for all potential buyers. “You don’t need to have any technical expertise,” Ms Taylor assured. “Our customers can easily explore the different finishes, layouts and even different times of day to see how their apartment will look and feel.”
Despite initial reservations about incorporating VR into the sales process, concerns about quality and customer comfort have been alleviated. “We had in the past held off on using VR as part of the sale process due to concerns about quality, customer comfort and putting on the headset,” Ms Taylor admitted. “But we found this technology had reached a level that really enhanced the experience and the feedback that we received so far from people that have gone through it is that it really exceeded their expectations and validated that decision to move forward.”
For those who may be hesitant to use the VR headset, Mirvac offers alternative options, including screen-based walk-throughs and immersive videos in the display gallery. These alternatives allow customers to view the apartments from various levels, orientations, and times of day, ensuring a comprehensive understanding of the property.
In addition to VR, Mirvac’s display suite features a full-length and height LED screen that showcases real-time skyline views and time-lapse footage. “The full length and height LED screen in the display apartment showcases real-time skyline views and time-lapse footage, especially valuable when the sales suite is off-site,” Ms Taylor explained. “This enables our customers to experience the different indicative views they can expect from their new apartment, and we can tailor this to different apartments and aspects.”
The immersive technology not only enhances the buying experience but also builds confidence and connection for prospective buyers. “Buying a home – especially off the plan – is a major emotional and financial commitment,” Ms Taylor noted. “Immersive technology allows a customer to truly see themselves in the space: to understand proportions, natural light, outlooks and finishes in a way static plans never could.”
With VR technology reaching new heights of maturity, it is poised to become a standard expectation in the real estate process. “Now that these experiences have reached a certain level of maturity we think they will shift from a novelty to an expectation in the process,” Ms Taylor concluded. “They really play a key role of giving buyers the reassurance and excitement that they need especially with off the plan purchasing.”
As Mirvac leads the charge in this technological transformation, the future of home buying in Australia promises to be more immersive and engaging than ever before.