High speed broadband increasingly vital for buyers

News at John Francis | 18/11/2021

Article from Estate Agent Today

A high-speed internet connection is the second most important factor for buyers after property size, a survey claims. And the study - run by a communications firm and involving a survey of 294 estate agents - claims good broadband connection could add a modest £5,000 to the price of a house. Research group OMDIA asked agents which single factor homebuyers rated as the most important in a property: 1. Size of property – 23% 2. Broadband quality – 20% 3. Number of bedrooms – 18% 4. Age of property – 10% 5. Access to transport – 9% Demand for fast, reliable broadband is particularly high in Scotland and the Southwest, where it is ranked number one. Nationwide 38 of agents questioned said it was a top three priority for buyers. Since the start of the pandemic, 69 per cent of the agents questioned have witnessed an increase in queries about the quality of the broadband connection at a property they are marketing. And 93 per cent agreed that fixed broadband is now essential for new-builds, with over a third stating new builds should have at least 300mbps connectivity. Some 37 per cent of respondents said existing 300mbps broadband added at least £5,000 to the value of a property while nine per cent said the figure would be over £10,000. Huawei executive vice president Jeremy Thompson says: “Connectivity is now a crucial part of many people’s lives and it comes as no surprise to us that it is the second most important factor for UK house buyers. The pandemic really emphasised the huge importance of reliable, secure and fast broadband and puts it firmly into the category of essential utilities like electricity and water.”