How important is your broadband connection when buying your new home? Would you be willing to pay more for your home if you knew that it had an ultrafast connection?
A recent article in the Metro said “forget transport and schools, today’s house-hunters prioritise a decent internet connection.” Property expert Henry Pryor also confirmed the importance of broadband when buying in this article by saying “high-speed broadband is no longer a luxury” and he referred to broadband speeds as ‘the fourth utility’”.
With more people working from home and the huge demand on internet for watching TV, live streaming and video calls it isn’t a huge surprise that internet is very important when selecting your new home, but does it mean you would be willing to pay up to £14,000 more for your next property purchase? Reserach by ultrafast broadband provider Hyperoptic believe it does.
Hyperoptic recently polled prospective home buyers on the importance of a quality internet connection, and found that this is valued more strongly than many other factors when moving house. The research showed that two-thirds of those questioned in the survey said that having a good broadband connection was just as – or more – important than living next door to nice neighbours. Furthermore, a third of respondents said they would gladly give up an extra bedroom if it meant having a quality connection.
The study by Hyperoptic concluded by saying that UK house buyers would pay an extra 8% for their property if it was guaranteed to have broadband with a speed of at least 100Mbps. With a recent BBC article claiming the average UK property currently costs £282,000, this means individuals surveyed are willing to fork out a considerable amount for good a broadband connection.
What do you think? How much is a good broadband connection worth?