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U.K. Homes Worth 20% Less With Slow Broadband

Experts in the U.K. property market have noted that houses with slow broadband are worth appreciably less, with rising numbers of buyers willing to cancel a deal if fast broadband is not available in that area.

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U.K. Homes Worth 20% Less With Slow Broadband

| News by Staff Reporter

Network cabling or WI-FI may add to the value of your property


Experts in the U.K. property market have noted that houses with slow broadband are worth appreciably less, with rising numbers of buyers willing to cancel a deal if fast broadband is not available in that area.

Many rural and remote areas of the U.K. remain stuck using speeds of 2Mbs (2 megabits per second) or less, while the government is busy with a rollout of a new superfast broadband network (30Mbs) to 95% of the U.K., according to an article in The Guardian.

In South Africa we are not lucky enough to have access to these kinds of speeds in the average home, but 4Mbs or 8Mbs connections are commonly available. Higher speeds can be obtained in South Africa but usually at an exorbitant price.

At some point, with more and more people becoming dependent on the internet for their jobs and income, internet access may well also become a selling point for South African homes.

The internet access point may be a wired connection or a WI-FI router. (approximate cost R400-800). It may thus be a good investment for a seller, creating an additional marketing feature for the property. Of course, it also depends what service providers can offer in your area.

According to one property expert, internet access in the U.K. is now regarded as "the fourth utility", after water, gas and electricity.

Read the full article at:www.theguardian.com/technology/2014/mar/02/fast-broadband-vital-to-homebuyers.


Source: www.bizpremises.co.za

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