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76% of Brits want ‘smarter’ homes

Are people willing to pay for the smart home? Perhaps not...

Are people willing to pay for the smart home? Perhaps not…

New research from GfK reveals that people’s appetite for managing their homes – including heating, security, entertainment systems and even household appliances – appeals to more than three quarters (76 percent) of people.

Appetite for the benefits of the smart home is highest amongst younger age groups, reaching 90 percent of 18-24 year olds and 86 percent of 25-44 year olds. Interest drops off slightly as people age, down to 56 percent for those aged 55 years and over. But at over half of this age group, that’s a very strong demand for the smart home. The only slight snag at present is that demand isn’t reflected in willingness to pay – just over one third (35 percent) of people would invest to make their home smarter. Around half of those aged 18-34 are prepared to pay (49 percent of 18-24 and 52 percent of 25-34s), falling to one in five (21 percent) of those aged 54 years and over.

‘Generation Rent’ is most likely to want a smart home – but tenants won’t invest in conversion
Although the appeal for the smart home is greatest amongst 18-34 year olds, this group is often referred to ‘Generation Rent’ as just three in 10 (31 percent) of those actually own their own property.  The research shows a mismatch of desire and feasibility, with younger generations unlikely to be able to or want to transform their rented properties into a smart home. This will have a marked impact on the speed of conversion into smart homes.

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