Broadband more important than nice neighbours for Brits moving home
Britons would spend £14,000 more for a home with ultrafast broadband, a new survey has suggested.
The survey of 3,000 Brits by Hyperoptic found that they would spend around 8% more for a property with access to broadband speeds of 100Mbps.
That equates to more than £14,000 for an average-priced UK home, based on the average price of a UK home of £181,619, according to the Land Registry House Price Index released last month.
Hyperoptic provides fibre to the premises (FTTP) connections which run all the way into a development, rather than to a cabinet in the street, which it says eliminates peak-time slowdowns, buffering and timeouts.
The company commissioned research into people’s priorities when it comes to broadband and moving home ahead of the August Bank Holiday weekend, a popular weekend for moving for many people.
According to the survey, more than a third of people (34%) believe good broadband is more important than an extra bedroom.
And more than two thirds (67%) believe broadband is as, or more, important than nice neighbours.
The survey revealed that 61% of Britons now check potential broadband speeds before renting or buying a property.
Anything less than 6Mbps would stop a potential mover from renting/buying a property, the research found, while 14Mbps was considered to be the bare minimum.
Britons’ are so reliant on their broadband that nearly a third (31%) said they would try to hold off moving until their connection was activated.
In many instances Brits cited the opportunity of receiving 100Mbps as an on par with, or more than important than, access to local amenities and nice neighbours.
32% rated it as equally or more important than off-street parking, 41% said it was equally or more important than a gym, and 48% rated it equally or more important than a swimming pool.
58% rated 100Mbps broadband equally or more important than a extra bedroom, and 62% put it as, or more, important than nice neighbours.
Steve Holford, vice president of products at Hyperoptic, said: “This study categorically proves that broadband has become a key deciding factor when moving home.
“Ultrafast broadband makes a property more marketable; people are increasingly reliant on their connection and need it to cope with their current and future bandwidth demands.
“However, it is prudent to check before you move – there are a number of websites, such as Rightmove, that enable you to see your expected speeds.
“Broadband not-spots still exist in city centres – if you want to get the best broadband on the market, it's worth considering contacting the companies directly and checking which properties they serve."
Hyperoptic focuses on bringing its services into developments with 50 or more units and installations are prioritised in buildings where there is greatest demand from the freeholder and residents.
Earlier this year, the company introduced a ’no-contract’ option’ for new customers, saying it was putting consumers first by offering “complete flexibility”.
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