1 in 5 brits would pay more for a faster broadband connection, according to a new survey from Halifax.
In an increasingly connected modern age, Internet is fast becoming an essential utility for homeowners, alongside gas, electricity and water. Now, it is a deciding factor in the house buying process, with 20 per cent of UK adults saying that would stump up a higher sum for a home with a good connection.
A similar number (18 per cent) say itâs already been a consideration when moving home in the past, with almost 1 in 4 (23 per cent) likely to negotiate a lower rent or asking price, if a home they're looking at turned out to have a poor broadband connection.
"Alongside outside space, private parking, and good transport links, a strong broadband signal is fast becoming a very significant feature of looking for a new home," comments Craig McKinlay, Halifax. "As superfast broadband is now the norm at work and on our mobile phones, there is a growing expectation that we should be able to enjoy a good broadband connection at home too."
Indeed, faster connections mean that residents can do an increasingly wide range of activities - although working from home is not top of that list. Flexible working ranked sixth in a list of planned activities (28 per cent), behind online shopping (74 per cent), checking social media (58 per cent) and streaming movies (35 per cent).
1 in 4 people now claim to have suffered with slow or an unreliable internet connection in their current home, which is ranked the second most annoying issue one could experience in their home (15 per cent agree), behind noisy neighbours (55 per cent), but ahead of poor mobile phone signal (7 per cent), leaky taps (4 per cent), and creaky floorboards (3 per cent).
Unsurprisingly, it is the younger generation who value broadband more than anyone else: among those aged 25-34, 29 per cent had considered the quality of broadbandg home in the past, compared to 10% of those aged 55-75. At the same time, 16-24 year olds are most likely to say they would pay more for a home with good broadband (25%), compared to just 16% of those aged 45-54.
Photo: SMemon
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Nick Marr
I am an internet entrepreneur with a passion for driving big audiences and a love for real estate. I have had plenty of ups and downs which has given me the experience to help others launch their own businesses. I enjoy projects that save consumers time and money, challenge convention and add real value to peoples lives.