UK homebuyers 'would pay £5,000 more for guaranteed fast broadband'

UK homebuyers 'would pay £5,000 more for guaranteed fast broadband'

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A new survey has revealed the importance of a good broadband connection for homebuyers in the UK, with many prepared to pay significantly more for faster internet provision.

Comparison site broadbandchoices polled 2,155 UK homeowners and found a reliable broadband connection was ranked as more important than living close to a good nursery or school for 57 per cent of respondents.

It was the third most important factor overall when choosing an area to live in and seen as more important than a spare bedroom or storage space.

Indeed, 62 per cent of those polled said they would be willing to make a higher offer on a property if the developers could guarantee a superfast broadband connection - and a quarter suggested they would be willing to go between £3,000 and £5,000 higher than the asking price.

This highlights how vital it is for housebuilders to not only concentrate on amenities when considering new developments, but also to look ahead to the communications infrastructure and whether it will be able to support the future residents.

When asked what they need a good broadband connection for, the majority of respondents said they wanted to access streaming services. Social media, WhatsApp, email, online shopping and working from home were also given as significant reasons.

Home communication expert at broadbandchoices Mark Pocock said being without an internet connection can leave homeowners feeling disconnected and inconvenienced.

"These results emphasise how crucial a reliable and fast broadband connection can be to reduce any further needless roadblocks in the way of a smooth transition to a new area," he added.

The news comes after Ofcom recently revealed every home in the UK will soon have the right to request access to a broadband connection capable of delivering download speeds of at least 10Mbps and upload speeds of at least 1Mbps. This will be part of a new Universal Service Obligation to come into effect next year.

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