Broadband Speeds Affect Housing Prices And Would-Be Buyers

Mar 10, 2014

Research by property-finding website Rightmove has found that people looking to buy a property may decide against it if broadband speeds are slow in the area.

The company surveyed 3000 customers and details about Internet speeds were ranked above transport links and nearby schools as a more important feature when considering a new place to live.

The firm has also claimed that up to 20% could be knocked off a house price as a result of sluggish speeds in the area.

According to Tech Week Europe, Rightmove included broadband speed information on its property listings in a two month trial. The success of this pilot means it is now being rolled out on a permanent basis.

The company claims that web use has now become ingrained in people’s lives and its new provision of broadband information is part of its commitment to bring users “the best property search experience.”

Besides speed information, customers will also be able to check whether their prospective property is able to upgrade to superfast Internet, along with a list of suppliers with the capabilities to provide this.

Rightmove’s announcement of its findings comes alongside other web-related news in recent weeks.

Last month, the government announced it would be adding £250m to the pot of funding for its Broadband Britain scheme, a plan to give 95% of UK homes access to superfast speeds by 2017.

Other research has suggested the growing importance of reliable Internet access, including one study that found rural children may be disadvantaged by poor speeds.




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