Real Estate

UK: Homebuyers Prioritise Internet in New Survey

UK - Homebuyers Prioritise Internet in New Survey

According to a poll of 294 estate agents throughout the UK, a fast internet connection is now one of the most crucial aspects for homebuyers.

According to data conducted by Omdia for telecoms equipment maker Huawei, questions concerning connectivity, mainly “full-fibre” broadband, have increased by 69 per cent since the epidemic began.

34 per cent of purchasers want speeds of more than 300Mbps, which can add £5,000 to the sale price of a home, according to 33 per cent of estate agents, and 23 per cent want 1Gbps.

When asked to list the most significant factor for homebuyers, they say:

  • The size of the property was mentioned by 23% of respondents.
  • The quality of broadband was mentioned by 20% of respondents.
  • The number of bedrooms was mentioned by 18% of respondents.

The property’s age was mentioned by 10% of respondents, while transportation links were mentioned by 9%.

According to studies conducted by telecoms regulator Ofcom, 18.2 million homes (62%) already have access to 300Mbps or faster.

However, only a small percentage of people are willing to pay for such high speeds.

The average UK speed is 50.4Mbps.

Important considerations

According to the report, good broadband is the most crucial consideration for homebuyers in Scotland and the South West.

However, while purchasers valued the internet – “especially since the onset of the Covid-19 pandemic,” according to London-based estate company Foxtons – it was frequently eclipsed by other factors.

The Author

Oladotun Olayemi

Dotun is a financial enthusiast who specializes in first-in-class financial content, including crypto, blockchain, market, and business, to educate and inform readers.