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Broadband and property prices

It’s not just the location of schools and shops that can have an impact on property prices.

If the broadband speed isn’t as fast as you would like in the house you want to buy, you can’t ask the seller to install fibre-optic. It is not a standard condition of a purchase. However, in a competitive market slow broadband speed can affect the worth of properties, or lead to a lower offer. 

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Does broadband speed affect house prices?

Increasingly broadband speeds are being taken into consideration by prospective buyers, as more and more time is spent online. With more people working from home since the Covid-19 pandemic, buyers want to be sure that their new home has a high speed internet connection.

Does full fibre increase property value?

Recent research shows* that 33% of estate agents thought that high speed broadband had the potential to add £5,000 to a property’s value. In the same survey, 69% of estate agents said that there had been an increase in buyers enquiring if properties had full-fibre broadband. 37% of the survey respondents said that buyers expected ultra-fast broadband in new-build properties.

What’s a good broadband speed?

A buyer’s view of what constitutes a good broadband speed will depend on their usage. A good connection speed for one person will be too slow for others. Broadband is measured in download speeds of megabytes per second. 10 Mb/s is considered an acceptable speed for email, browsing the internet and online shopping, and an average home with an ADSL connection should produce this kind of speed.

Fibre-optic broadband should deliver speeds of 30-300 Mb/s. This superfast broadband is sufficient for a household with multiple users of broadband going online at the same time. People working from home would be happy with this level of connection.

Anything over 300 Mb/s is defined as ultrafast broadband. If you work from home, have a household of 4 people that are all intensive internet users, streaming video and gaming, you may need these sort of speeds. But not every home has access to ultrafast broadband – rural locations are not as well served with full fibre as towns and cities.

What broadband speeds do I need in my home?

As mentioned above, it will really depend on the size of your household and your level of internet usage. You should probably think about future requirements too. If you have a young family, their usage will increase as they get older, so a broadband speed that is adequate for your needs now may not be fast enough in the future.

Checking the broadband speeds at a property

There are numerous speed checking tools online that allow you to check broadband speeds for any postcode. You can also run  instant speed tests on your own connection to see how the wi-fi in your home compares.

When should you buy broadband for your new home?

It is best to give your internet service provider two weeks notice before your completion date, so that they can arrange for your broadband to be switched to your new address. If you are considering installing a faster connection in your new home, you must wait until you have moved in before instructing your provider to do this.

Considering a move? Let us value your home

If you’re thinking of moving, do you know the value of your property? Please contact us and we will provide a free no-obligation property valuation for you.