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Good broadband pushes house prices up as much as 5%

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Published: 29/11/2016   Last Updated: 29/11/2016  
Tags: Good Broadband Pushes House Prices Up As Much As 5 Percent

Broadband is a vital part of most people’s lives, so it’s great news that the Chancellor has pledged more than 1 billion pounds to improve broadband speed and mobile phone signals in the UK. 1

Having access to good broadband is at the top of most buyers list when thinking of purchasing a new home. New research by Broadband.co.uk has revealed that some buyers feel that it’s more important than off-street parking. Good broadband speeds can it say add as much as 5% to the value of your home, that’s the equivalent of £25,000 on a £500,000 home. Many new home owners will make sure that they have internet connection before other services such as gas and TV, electricity was the only service to have priority over the internet. 1 out of 10 home buyers reject a home due to a bad internet connection.

In another survey carried out by Gocompare it showed that many Britons now consider internet connection to be more important than heating, they found that 76% of British adults view broadband as an essential utility with 36% saying they couldn’t live without it. 2

Ben Wilson, from Gocompare.com Broadband, said: “These figures highlight just how important the internet has become in our daily lives, with the majority of people now considering it an essential utility, like energy or water.”

So if you are looking to buy a home make sure that you check the internet connection before you buy.  

Sources:

1.    http://www.telegraph.co.uk/finance/property/news/9570756/Fast-broadband-more-important-to-house-buyers-than-parking.html

2.    https://www.propertyinvestortoday.co.uk/breaking-news/2016/11/good-broadband-now-considered-vital-by-property-buyers
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