Poor broadband speeds could knock up to 25% off the value of your home

Ultra slow broadband speeds could knock a quarter off the value of a property, such is our reliance on having a fast internet connection at home, according to research by Housesimple.

We looked at average house prices on streets with some of the slowest broadband speeds in Britain - less than 1Mbps vs. UK average of 46.2Mbps - and compared house prices on those streets with neighbouring streets in the local area, by looking at the postcode district average.

The research revealed that houses prices were on average 24% lower on the streets with the slowest broadband speeds - £182,983 compared to £240,031 for the postcode district.

The following table shows how average house prices on the 20 streets with the slowest broadband speeds in the UK, compared with average prices in the respective postcode districts:

Address	Postcode	Average broadband speed on the street (Mbps)	Current average house price, street (£)	Current average house price, postcode district (£)	% difference - prices on street vs postcode district
Poplar Avenue, Oldham, Greater Manchester	OL8 3TZ	0.221	105,977	116,033	-8.7
St David's Close, Worksop, Nottinghamshire	S81 0RP	0.290	107,819	185,936	-42.0
Milton Road, Cowplain, Waterlooville, Hants	PO8 8LD	0.338	270,134	329,028	-17.9
Cross Lane, Bebington, Wirral, Merseyside	CH63 3AD	0.354	195,553	231,846	-15.7
The Willows, Acaster Malbis, York, NYorks	YO23 2XE	0.463	215,593	356,282	-39.5
May Tree Lane, Waterthorpe, Sheffield, SYorks	S20 7HA	0.467	108,782	185,681	-41.4
Turnpike Road, Connor Downs, Hayle, Cornwall	TR27 5DT	0.483	282,182	256,084	10.2
Rothbury Gardens, Plymouth	PL6 8TU	0.492	241,516	224,665	7.5
Lancaster Road, Out Rawcliffe, Preston	PR3 6BN	0.549	236,558	262,371	-9.8
Moseley Wood Gardens, Cookridge, Leeds	LS16 7JB	0.551	250,796	339,084	-26.0
Blackstone Avenue, Glasgow	G53 5DW	0.669	90,834	165,505	-45.1
Fosbrooke Road, Small Heath, Birmingham	B10 9JS	0.679	147,905	153,421	-3.6
York Crescent, Stourbridge	DY8 4RT	0.718	226663	224,042	1.2
Graham Park, South Dell, Isle of Lewis	HS2 0SP	0.718	86,679	118,718	-27.0
Coppice Farm Park, St. Leonards, Tring	HP23 6LG	0.719	211,333	556,974	-62.1
Oak Close, Little Stoke, Bristol	BS34 6RA	0.831	230,314	259,671	-11.3
Maesyrhendre, Ammanford, Carmarthenshire, Wales	SA18 2BW	0.839	81,399	142,626	-42.9
Phoenix Boulevard, York	YO26 4WX	0.853	250,205	305,653	-18.1
Gratrix Lane, Sowerby Bridge, Calderdale, SYorks	HX6 2PX	0.922	123,098	188,444	-34.7
Laburnum Drive, Milton of Campsie, Glasgow	G66 8HY	0.948	196,328	198,557	-1.1

Taking the 20 slowest broadband streets in the UK**, Housesimple found that average house prices were lower, and in many instances significantly lower, on 17 of those streets when compared to the postcode district average.

Figures suggest a slow broadband connection does have an impact on house prices. For example, home broadband speeds on Coppice Farm Park, in St. Leonards, Tring, are a dismal 0.719 Mbps - that’s 1/64 of the UK average broadband speed. Average house prices on Coppice Farm Park (£211,333) are62% lower than the postcode district average (£556,974).

Broadband speeds in Blackstone Avenue, Glasgow, are positively snail pace at 0.669 Mbps. Average house prices on Blackstone Avenue are £90,834, that’s 45% less than the average for that postcode district (£165,505).

Pedestrian broadband speeds may also have contributed to the lack of house sales on these streets. Housesimple research found that across the 20 slowest broadband streets, just 27 properties were sold in the past 12 months.

Sam Mitchell, CEO ofHousesimple, comments: “Broadband is now considered the fourth utility after water, gas and electricity, such is our reliance on a fast internet connection at home for everyday tasks such as food shopping and watching the television. And having a fiendishly slow internet connection at home can really affect the saleability of a house.

“Buyers may be reluctant to purchase on a street where broadband speeds are so slow that they can’t do simple tasks such as open multiple web pages concurrently, speak to friends on social media channels and download movies, let alone work from home.

“It is often one of the first questions asked by buyers when viewing - how fast is the broadband connection? - along with the quality of the local schools and reliability of the transport links. As with any purchase, buyers need to do their due diligence. It is worth asking if the internet is slow for any reason, most sellers will be happy to explain why that is, and be able to provide the best advice on your broadband options, to ensure the best connection possible.”