Published: 22nd Jun 2016
A new survey from internet service provider Hyperoptic, which specialises in superfast fibre broadband, has revealed that the presence of a fast internet connection can add as much as eight per cent to the value of a house - a substantial increase in the midst of rising property prices.
In financial terms, this amounts to around £14,000 for the average UK house, which is valued at £181,619 by the Land Registry.
In fact, it was so important for prospective buyers that two thirds said they would rather have fibre broadband than friendly neighbours.
It was also found that 61 per cent of prospective buyers or renters made sure to check the internet provision of an area before committing to a property. When it comes to what people consider acceptable, 14 mbps is the minimum internet speed they are prepared to consider, while speeds of six mbps would stop them from moving house. Overall, 31 per cent said they would put off moving to an area until a faster internet connection arrived.
In addition to this, 34 per cent of respondents said good broadband was more important than an extra bedroom, 41 per cent would prefer it to a local gym, 48 per cent to a swimming pool, and 32 per cent even said it mattered more to them than another essential modern amenity - a space to park the car.
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."
For those who cannot yet take advantage of fibre-based broadband, a satellite internet connection can be a great way of getting online without having to wait, and can be a major selling point if you ever want to sell your house to a new generation of internet-savvy buyers.
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