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A Good Broadband Connection Is A Must For Home Buyers…

February 18th 2013
By: Melanie

Over the past couple of years it has become apparent that a good broadband connection is becoming an important consideration to people buying a home.
A recent survey by Halifax revealed that 30% of people they surveyed stated that   broadband connection is likely to affect whether they buy a home in a particular area, and 1 in 5 people stated they would be prepared to pay more for a home if it had good broadband connection.
Among those home buyers who would consider paying more for a good broadband connection, 67% would pay up to 3% more for a new home if it had a good broadband signal, and 22% would pay between 4%-10% more. Taking into consideration the average price of a house in the UK of £162,932 would mean that people would consider paying up to £16,293 for a home with a fast broadband connection.
It’s not surprising to see that among the people Halifax survey, that 40% of 18-20 year olds said that it would affect their decision compared to 24% of those aged 65 and over.
Martin Ellis, economist at Halifax, stated:'A strong broadband connection is an increasingly important factor when choosing where to live. We are living in the digital age and as such more people are choosing to work from home, but as well as this it's a part of our everyday lives with web browsing and streaming television commonplace.
'As a result we find people are increasingly prepared to pay a premium for homes with a good broadband signal, and this is likely to remain a factor when choosing where to live.'
Halifax has also revealed that over half of us are using our phones or computers to communicate with people under the same roof. So it seems as though good broadband connection will continue to be a very important consideration for people looking to buy a new home.