Property prices could be boosted by fast broadband

With property prices set to fall in the UK many homeowners and sellers may be concerned, but officials believe that fast broadband could help to boost property prices in some areas.

The property market in the UK has been a turbulent one over the past few years, with property prices having plunged since the peak back in 2007 and with further house price falls expected over the course of this year according to industry groups.

However, for those homeowners who were hoping to sell this year and have been disappointed to hear the news about property prices there could be some good news. Officials believe that fast broadband access could help to boost property prices in some areas, thus enabling some homeowners to get more for their property when they sell.

Officials said that many property buyers take the availability of fast broadband into consideration when choosing a property. A survey was carried out amongst over seven hundred consumers and nearly two thirds said that they would think twice before putting in an offer for a property where fast broadband was not available.

However, when it came to going on holiday for a break less than one third said that they would pay more to stay in a property that had fast broadband, indicating that consumers are prepared to go without high speed broadband for a short period but when it comes to their living premises they want to have access to this technology even if it means paying more for the property.

Would you pay more for a property that had high speed broadband access? Let us know with your comments

Source – Hexus