Estate Agent Survey Finds UK Home Buyers Expect Fast Broadband

The latest 2016 UK Prime Country Review (Winter) from Knight Frank, an estate agent that covers London and the UK, has revealed that 47% of 500+ new house buyers active in the prime market would be “more likely” to buy a house in an area with good Internet connectivity or superfast broadband.

On top of that 32% of respondents said they would research an area’s Internet connectivity, or ask an estate agent about broadband speeds, before buying a house. Separately 61% of respondents agreed that superfast broadband and good mobile (3G / 4G) coverage was either a very or fairly important attribute when buying a property.

Oliver Knight, Knight Frank Research, said:

“The need for fast broadband can be a stumbling block for some buyers, especially those moving from urban areas to more rural ones, with broadband speeds and availability changing significantly across the UK.

The proportion of respondents who said they would research an area’s internet connectivity, or ask an estate agent about broadband, rose to 47% if the preferred location for a new property was in the countryside.”

In the end only 21% of respondents agreed that the Internet would have “no bearing on my purchasing decision.”

What attributes are important when buying a property?
67% Privacy & Security
67% Garden or access to land
61% Superfast broadband connection / good mobile coverage
61% Views
46% Garage/outbuildings
41% Period features
38% Good energy efficiency rating
36% Secure parking
34% Ready to move in condition
14% Health, gym and spa facilities
11% 24-hour concierge

Elsewhere a similar study from LivingCom has revealed that a lack of Internet services when moving into a new rented property is a major frustration for 96% of respondents. Meanwhile 83% of people aged 25-30 said they had to wait more than a week to be connected in their new homes. Finally, a third survey (this time from Gocompare.com) revealed that 1 in 5 UK respondents would not buy a house if it had a poor Internet connection.

The fact that access to fast broadband connectivity is so important to such a large proportion of people is no surprise, although the decision about how much you pay for a house and what matters most in that decision will always come down to personal choice, which is different for everybody.