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.
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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.
Alok Sharma was named the latest Housing Minister on the evening of 13 June 2017.
The MP for Reading West is the 6th person in the role since 2010.
But what will it mean for the housing market? The Guild's CEO, Iain McKenzie, shares his thoughts.
“I welcome the news of the appointment of a new Housing Minister after waiting for five days after the General Election result. However, I am concerned by Alok Sharma’s lack of industry experience. There’s no doubt that his background in accountancy will help with the role, but the housing market is in crisis. We need a government representative who will stand up for the industry. I hope that Sharma can step up to the plate.
“Perhaps more concerning is the lack of a cabinet position for the Housing Minister. Housing was a key concern during election campaigning, but now it looks set to take a back seat in policy making while Brexit dominates the agenda while the sector deals with yet another new housing minister. As CEO of The Guild, I am going to endeavour to raise the profile of the issues facing our industry during this government, no matter how long it lasts for.”
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