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

by Housesimple on 20th May 2019

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.”

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