Fast broadband connections to a property are increasingly becoming more and more important to homebuyers. It is thought that a home without broadband or with a slow broadband connection could be worth up to 20% less than a property with a good fast broadband connection.
Because the internet usage is continuing to grow in peoples everyday lives the need for fast and reliable broadband connections also increases. Many people now stream TV shows online daily such as via Netflix or the BBC iPlayer which require a good broadband connection to run well. There is also an ever increasing number of home works too who require good internet connections to work from home.
If people can’t perform these sorts of tasks at home then it could really devalue a property to them or even completely put them off their list altogether.
In this last week we have seen Rightmove, the online property search website, now include a speed checker link on the property details for each property that is listed with them.
Bernard Phillips from Rightmove, said:
“We already offer a number of tools to help consumers make informed decisions about a property, and we’re pleased to be the first to add broadband speeds to this. Broadband has become ingrained in people’s lives and is an important factor when choosing a home.”
The government’s target of superfast broadband for 95% of the UK by 2017 should hopefully help with this issue, but there will still be plenty of rural properties that will struggle to get to these sort of speeds. A superfast broadband connection is classed as a broadband connection of 24Mb or above.
Rightmove are to add the estimated broadband speeds of the 1 million homes that it has listed on it’s website.
According to a story that was run by The Telegraph newspaper they have learnt that Rightmove and BT are teaming up so that the estimated broadband speed of a home is listed down against the basic stats of a house, such as the number of bedrooms, garden or garage.
Along with the estimated broadband speed to be listed on Rightmove they will also be listing if the property is covered or due to be covered by the new fibre BT Infinity network that is currently being rolled out across the country and will offer fibre optic broadband with a download speed of up to 40Mb. At the present time though coverage of the Virgin Media cable network is not being included which could adversely effect the listing of many properties that will only have the broadband speed listed to them that is availfable by a BT ADSL network which could be just 4Mb when in reality they could be receiving 50Mb broadband connections from Virgin Media.
Around 90% of properties for sale in the UK are listed on Rightmove so it has a huge importance to the property industry with many buyers using the portal when searching for potential new homes.
A source a Rightmove told The Telegraph:
“Broadband is becoming one of the most, if not the most, important considerations for prospective buyers. Many people fall in love with a home only to find out it can only get really slow internet. By listing broadband speed with all the other property details buyers will be able to weed out homes that don’t have high-speed access.”
Rightmove have also said that they are currently not in any sort of official partnership with BT.
We have long said that the broadband speeds could effect the sale of a house with houses with high speed broadband having an advantage over houses that have slower broadband connections. This latest step just goes to show how much importance broadband has on our daily lives and will only continue to grow in importance.
How long before adverts for homes change from: “4 Bed detached house with garage and conservatory” instead are reading “40Mb detached house with 4 beds and garage”.