An estimated third of employees spend at least some of their week working from home with high speed broadband rising up the criteria list for new house buyers. Evidence suggests that broadband speeds could affect the price that buyers end up paying for their next move.
An analysis of average house prices and broadband download speeds by local authority reveals that buyers spend, on average, 17% more for properties in areas with superfast broadband compared to areas where average speeds are less than 25 Mbps.
Some of this will be related to where broadband providers have historically focused their investment, ie, in more affluent areas, but with the major providers increasing their coverage, this effect will become more diluted. Indeed, the Government has committed to provide superfast broadband (at least 24Mbps) to at least 95% of UK premises.
There are a myriad of factors that affect local property prices but the influence of broadband speeds should not be underestimated with its importance to buyers set to continue to increase.
We would like to take this opportunity to thank you
for your continued support which has made 2017
such a successful year
and we look forward to working with you
in 2018 and beyond.
After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included.
Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.
(Released October 2016)
The August 2016 house price index data showed a monthly rise of 1.3 per cent across the UK, 1.4 per cent in England and 1.3 per cent in London. Regionally, the South West region experienced the highest monthly growth at 2.3 per cent, while prices in the North East region fell at minus 0.2 per cent.
On an annual basis prices across the UK rose by 8.4 per cent, bringing the average house price to £218,964. In England the increase was 9.2 per cent and the average house price £235,573. London prices rose by 12.1 per cent making an average London home £488,908. The East of England again saw the greatest annual rise at 13.3 per cent, while the North East saw the lowest annual growth at 3 per cent. Annual price increases by property type across the UK were 9 per cent for flats and maisonettes, 8.7 per cent for terraced houses, 8.7 per cent for detached and 8.3 per cent for semi-detached. Terraced property prices rose by 7.8 per cent.
Just five local authority areas saw a fall in prices over the year, notably Hartlepool at minus 6.7 per cent. The highest annual rise was seen in South Bucks at 23.6 percent.
Completed sales for England in June 2016 totalled 57,637, a fall of minus 32.2 per cent compared to a year ago.
The average price of a new build property in England in August was £294,832, up 12.7 per cent on July and up 24.8 per cent up on a year ago. Meanwhile, resold property prices averaged at £214,029, a rise of 0.5 per cent over July and 7.3 per cent higher than the same time last year.
Value My Property