Good broadband now more important to buyers than a view

Wednesday 23rd November 2016

The importance placed on good broadband has been further highlighted by the results of Knight Frank's first Buyer Survey, which showed that superfast broadband connection and excellent mobile phone coverage are just as important to buyers nowadays as a good view. 
The research, which tracked the views of more than 500 buyers in the prime market, revealed that some 61.4% of respondents cite strong internet connectivity and good phone signal as very important factors when moving home. By contrast, 60.8% of those surveyed said the same about a good view. 
“In an age of Wi-Fi, tablets and streaming, it is unsurprising that fast and reliable internet access is seen as a necessity among home movers,” Oliver Knight, of Knight Frank Research, commented. 
“Technology improvements, including fast, reliable internet have meant that working from home is a viable option for many, potentially cutting down on both commuting time and costs. This is likely to be particularly relevant for buyers in more rural property markets.”
The survey didn't just look at what buyers want, however, it also analysed the impact of recent changes to stamp duty (and the effect this has had on buyer's budgets), as well as looking at the main reasons why people decide to move home. 
It found that 41% of prime buyers have lowered their budget as a consequence of the stamp duty changes, while some 40% plan to stay in their next property for longer because of the recent alterations. 
As for the main factors behind moving, “quality of life” was the most important reason, followed by upsizing or downsizing. While a quarter of respondents have a preference for village life and 19% said they would opt for a countryside location, most people would still like to live in the city (30%). 
Unsurprisingly, privacy and security were seen as two of the most important attributes to a new home, while having a garden or access to land were other things buyers are on the lookout for. 

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