Decent broadband a major factor in choosing a home

While off-street parking, mature gardens and good local schools are still high on the must-have lists when househunting, new figures from Halifax suggest that a decent broadband signal is becoming increasingly important too.

Nearly one third of people surveyed said it is likely to affect their thinking on whether to buy a home in a particular area, and one fifth that they would be prepared to pay more for the same home if it had good broadband.

Of those who would consider paying more for good broadband, 67% would pay up to 3% more for a property with a good broadband signal and 22% would pay between 4% and 10% more.

Younger people are more likely to say it is likely to affect their decision with 40% of 18-24 year olds compared to 24% of those aged 65 and over. Men (34%) are more likely to say it is likely to affect their decision than women (26%).

“We are living in the digital age and as such more people are choosing to work from home,” said Martin Ellis, economist at Halifax, “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.”

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