The provision of hyperfast broadband has become a top priority for UK home-movers. A third of Brits (33%) try and put back their move in date until their broadband is activated – potentially delaying thousands of house moves every year, according to a poll of 3,000 UK residents. Hyperoptic, the UK’s leading Fibre-to-the-Premises (FTTP) broadband provider, commissioned the research to get insight into how broadband provision is affecting the UK property sector.
As the nation becomes even more digitised – with TV, music and even government services increasingly being accessed online – many more Brits are doing their due diligence checking available broadband services before they move. Over two thirds of Brits (69%) now check their broadband speed before moving home – up 8% from a similar study in 2015.
The respondents confessed that if they saw on a broadband speed checker, such as Rightmove
, that a potential property received less than 9Mbps then it would put them off buying it entirely. They would expect 18Mbps as a minimum.
Brits would even be prepared to pay a premium to get a hyperfast broadband service. The respondents claimed they would be prepared to spend a staggering 11% more for a property if it had broadband speeds of 100Mbps or more. This equates to them spending an extra £23,000 on the property, when correlated against the average UK house price.
Steve Holford, Chief Customer Officer, Hyperoptic, adds: “In the UK the broadband provision is more of a post-code lottery than an guarantee. It’s good to see so many more Brits taking the time to check what services are available before they make an offer on a property, rather than moving in and being very disappointed.”
According to the survey hyperfast broadband provision is now also on par with, or trumping, other items that typically feature on a house-movers wish list:
Steve Holford adds: “The fact that, for the vast majority of Brits, hyperfast broadband provision now rates alongside local amenities and property features, represents a fundamental shift for the property sector. For many years broadband has been considered a ‘techy’ issue or, at best, ‘a nice to have’ – it’s time for the property sector to get up to speed on the increasingly important role of connectivity, so that house movers receive the right information from the outset.”