It is estimated that over a third of employees now spend some of their week working from home on a regular basis. In turn this has led to higher demand for high speed broadband from buyers looking to create a reliable office base at their residence. Evidence even suggests that broadband speeds could be beginning to affect the price that buyers end up paying for their next move.
An analysis of average house prices and broadband download speeds by local authority reveals that buyers spend, on average, 17% more for properties in areas with superfast broadband. This is compared to areas where average speeds are less than 25 Mbps.
Some of this will be related to where broadband providers have historically focused their investment (i.e. in more affluent areas). However, with the government committing to provide superfast broadband to at least 95% of UK premises and access to basic broadband for all, this should stimulate private investment in full fibre connections by 2021.
With time, this government investment may dilute the effect broadband speeds have on house price, but for the time being, evidence suggests that if your broadband speed is faster, then your home may very well be worth more – 17% higher in some cases!
So just how fast can broadband go in my area?
With the Waterfords area being situated firmly within the commuter belt and one of the most affluent areas in the UK, the good news is that almost all of the residential areas along the M3 corridor have access to superfast broadband, with a few exceptions. You can check your broadband speed on the Department for Digital, Culture, Media and Sport website:
There are a myriad of factors that affect local property prices but the influence of broadband speeds on local property prices should not be underestimated.
What other factors affect property price?
As with all commodities, house prices are underpinned by the laws of supply and demand, which can fluctuate. Therefore it is very important to keep an eye on the overall state of the property market, which you can do easily by visiting our frequently updated property market pages, tailored to your local area.
Local house price trends
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Camberley, Frimley, Frimley Green, Deepcut, Mytchett and surrounding areas.
Chobham, Bisley, Horsell, Knaphill, Ottershaw, Pirbright, West End, Windlesham and surrounding areas.
Farnham, Bentley, Crondall, Wrecclesham, Rowledge, Dippenhall, Badshot Lea, Frensham, Tongham and surrounding areas.
Fleet (including the Blue Triangle), Crondall, Church Crookham, Elvetham Heath, Hook, Hartley Wintney, Crookham Village, Farnborough and surrounding villages.
Sunningdale, Virginia Water, Wentworth, Sunninghill, Ascot and surrounding areas.
Yateley, Eversley, Blackwater, Darby Green, Hawley, Sandhurst and Finchampstead and surrounding areas.
Can’t see your local area? Contact our marketing department – email@example.com who will be happy to send a tailor-made report. Alternatively, call 01276 903127 for further advice.