Slow Broadband Is Dragging Down House Prices
JUST five years ago, broadband speeds had little impact on house prices.
Now agents report that good connectivity is a prime concern for buyers, even if they are not running a business from home.
Homes in so-called ‘not spots’ could be worth up to 25 per cent less than those with fast broadband and in some cases are even unsaleable, reports suggest.
Alexander Gosling, managing director of online agent housesimple said: “We live in a connected world and most people couldn’t survive without a fast broadband connection at home.
“A known broadband slow spot could knock 20 to 25 per cent off the price of a property.”
He added that most buyers will now check broadband coverage, particularly if a property is in a rural area.
So what can be done if you are affected? The Government is trying to roll out superfast fibre broadband across rural areas of the UK but some remain disadvantaged.
A number of communities have banded together to get the Broadband Support Scheme, which enables those in ‘not spots’ to apply for grants to help with the set-up and installation costs of a broadband connection.
In some cases, simply changing provider may help.
If not, there are companies offering to help to those affected by connectivity problems.
Hyperoptic (www.hyperoptic.com) works with property developers and building managers to install fibre broadband direct into developments.
Oxfordshire-based Gigaclear (www.gigaclear.com) is a rural provider of superfast broadband to communities. Countrywide Telecoms provides high-speed mobile broadband devices through the mobile network.
The Government, working with such companies, hopes that by 2017, 95 per cent of the UK will have fast and superfast broadband.