It would appear speedy internet connections are becoming an even more attractive feature in Australia's real estate market.
According to a News.com.au report, high speed internet is featuring prominently on home buyers' wish lists and where there's a lack of it, it's becoming a stumbling block for sellers.
“Things like this, which once wasn’t on a buyer’s radar, today are often at the forefront of buyer inquiry,’’ said property analyst Michael Matusik of Matusik Insights; who mentioned new apartments in buildings with zippy Wi-Fi were also popular - something that developers might want to take note of.
Angus Kidman of Finder.com.au says it can be "horrendous" for buyers if they purchase in an area where there are limited broadband options; a situation that's not just common in regional and remote regions, but also in pockets of some metropolitan areas as well.
In today's increasingly interconnected world, a world where more people are also working from home, purchasing a property without access to fast broadband can be a little like buying a house without access to electricity supply or mains water. It's become that important.
It's not just about speed either - the explosion in popularity of services such as Netflix will also make fast broadband plans with unlimited bandwidth more of a gotta-have.
Past studies carried out in the USA and UK indicate the availability of high speed broadband can add a significant amount of extra value to a house. In the UK, it's considered the “fourth utility”; with the other three being gas, water and electricity,
A real estate agent in the U.S. state of Vermont recently stated it has become common for prospective buyers to tell their agent they're wanting (for example) a three-bedroom home; but to only show them houses with fast internet. If a house doesn't have it, the buyers never see it.
In a sign of things to come, the advanced search feature of Australia's most popular real estate site, RealEstate.com.au, has a filter that includes a "broadband internet" option.
But there's broadband and then there's truly fast broadband.
For Australians selling their homes, having very fast internet installed as part of the sales preparation process could be a good investment that will help their listing stand out from the pack, sell faster and for a better price.
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