Broadband speed influencing house prices

This may come as a surprise to those of you who haven’t house-hunted for a while, but a good broadband connection dramatically increases what people are willing to pay for a home.

The interesting fact was revealed in a recent study by the Halifax Building Society.

A fifth (20%) of the 2,000 people questioned expressed their willingness to pay a premium for high speed broadband - understandable when you consider the amount of time many individuals and families now spend using a home broadband connection for work and entertainment purposes.

Many of us use the internet as our main source of news, do our online shopping, send emails, post on social media and more - all through the home network. In most modern homes, parents and children are all using broadband at some point during the evening. An internet connection has become essential and to buy a house without any service at all, or a slow one, would be unthinkable.

On fact, 18% of the respondents stated that they had taken broadband into consideration when previously viewing houses for sale. They also pointed out that they would expect a reduction in selling price or rent if the broadband service was poor.

Craig McKinlay, a spokesman for the Halifax commented: "Alongside outside space, private parking, and good transport links, a strong broadband signal is fast becoming a very significant feature of looking for a new home."

If you're a house owner and thinking of selling, it could be worth waiting until fibre optic broadband's available in your area, if it isn't already. You might just get full asking price

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