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Fast broadband - now essential to home buyers…

May 7th 2014
By: Melanie

Last week in our article What’s on most property buyer’s wish lists?”, we explored the list of items that buyers will expect when buying a new home, and one of the items high on the list is a good broadband connection, which is now regarded by some homeowners as being the fourth utility after water, electric and gas.
 
Most homeowners now regard fast broadband as being essential part of life to manage shopping, working from home, downloading information, and streaming entertainment. Slow internet access could reduce homes value by as much as 20% according to the BBC’s property expert, Mr Pryor.
 
Pryor stated “I was involved with a survey that looked at the impact of broadband speed on people looking to buy or rent and the potential effect on prices and we found a home without at least a standard broadband connection could be worth up to 20 per cent less than a comparable property.”
 
“A property needs 21st century connectivity. More people are making decisions to work from home full time or even part of the time. More demanding buyers now want fibre-optic superfast speeds for things like streaming entertainment and managing a host of equipment that relies on this.”
 
Rightmove have recently added a broadband search indicator to their listings after research carried out by the company revealed that significant amount of buyers thought that this was now an essential aspect of a property’s information. 
 
Many homes especially in rural areas around the UK still have significantly lower broadband access which means that they will have a disadvantage when selling their homes to people who require fast internet speeds.
 
 
Source: Daily Telegraph