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  • Property Yields

    Slower broadband speed could hinder house prices & rentability ...

    13 areas have been earmarked by the Government for a £95 million new investment in high speed broadband, including Blackpool, Manchester and Portsmouth, improving accessibility and speed of internet services for those running businesses, as well as self-employed people, home-workers and students.

    This is something property investors should look at with interest.

    Research shows that poor broadband can wipe up to 20 per cent from the cost of a house in some areas, and, as more people chose to work from home, landlords have had to up their game to meet the superfast broadband expectations of these new tenants.

    Full/source article

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    Another example of the importance of broadband.  This tenant moved from a private landlord to a Build to Rent scheme for this sole reason:

    Most people in the UK rent from small private landlords, often amateurs, with mixed results. Big investors are now building thousands of properties especially for rent, but will they be a better option?

    Moving into his new sparkling white flat in a high-rise block in east London, Michael McDonald is looking forward to one thing more than anything else - high speed broadband that actually works.

    In his last home the internet was broken and the landlord didn't fix it for a whole year. So he can soon finally watch a high-definition film in his own living room.

    Full/source article

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    Many young tenants expect high-speed, reliable internet connection.

    In the London, 73% of tenants consider good connectivity an important consideration when choosing a property to rent, and 70% of those who work from home at least one day a week say that they would be likely to reconsider renewing their current contract if they were not satisfied with the connectivity in their homes.

    The study also found that almost 60% of those living in the capital would expect some discount in rent as compensation for poor connectivity, and close to one in five would request a 10% decrease.

    London currently ranks 30 out of 63 UK cities for the number of premises covered by ultrafast broadband, and is positioned in the bottom five UK cities for 4G coverage, which is clearly unacceptable for many renters.

    Full/source article

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    I have to say that I totally agree with these renters.

    I consider bband more important than any other utility.

    I use my mobile for all my bband requirements The Freeview TV service is rubbish but no way am I paying for Virgin.

     I can put up with that . Fortunately the 3 network is OK so am a relatively happy bunny.

    I'd be lost without my mobile and 3 signal

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    L&Q will become the first housing association to offer ultra-fast, ultra-cheap broadband to all their residents.

    In the largest scale deployment of full fibre broadband by any UK landlord, the social housing provider plans to deliver it to all existing residents by 2020.

    In partnership with Community Fibre, L&Q will offer the lowest cost broadband packages in the market to all tenants , with lower rates offered to groups including the elderly, lone parents and people with mental health problems or disabilities.

    In addition, Community Fibre will work with the L&Q Foundation to employ people in the localities where the service is provided in roles that will include customer service, sales and installation. The provider will also deliver a free Gigafast™ connection to community spaces including public halls, schools and libraries.

    The Ocean Estate in Stepney Green will be the first to receive fibre broadband, which is secure and uncontested, meaning that increased use has no effect on speed.

    Andy Brown, Chief Operating Officer, said: “We’re working hard to make things better, faster and lower-cost for customers. Delivering low-cost connectivity to our residents will enable them to take advantage of the well documented financial, economic and social benefits of being online.

    “Not only will this help them to access the My L&Q portal to book repairs and make enquiries online, it will also support people working at home or looking for employment.

    “Being an early adopter of this technology has given us the opportunity to negotiate great rates for our customers. We want to future-proof our properties so that our residents will be able to benefit from advancements such as mixed-reality technology as they are developed, rather than years later.”

    Jeremy Chelot, CEO of Community Fibre, added: "We are delighted to be working with L&Q to offer the UK's fastest Gigabit services across their nationwide portfolio.

    “L&Q's commitment to make more affordable, flexible and better internet available to all their residents has made it easy for Community Fibre to bring this expansion to reality. This partnership showcases how an innovative approach from a housing association can help us to provide a network for the future, and offer the best in connectivity to customers".

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    Slow broadband can knock up to 20 per cent off the value of your home and could even stop it selling, Money Mail is claiming today.

    Property expert and buying agent Henry Pryor says: 'Houses without a connection or with slow download speeds can be worth up to 20 per cent less. The internet is now the fourth utility after gas, electricity and sewage.'

    Telecoms watchdog Ofcom has warned that nearly 700,000 'forgotten homes' across the UK do not have broadband fast enough to meet a typical family's needs — it considers a 'decent' connection one with a download speed of at least 10 Mbps.

    Full/source article

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    Forget low crime rates or school catchment areas, buyers will apparently pay more for a home if it has guaranteed superfast broadband.

    A poll of more than 2,000 home owners by comparison website Broadbandchoices found that 62% would pay more for a house in an area that has a reliable and speedy internet connection.

    Respondents claimed that a fast and reliable broadband connection was more important than living close to good nurseries and schools (57%), friends and relatives (38%) and shops and amenities (35%).

    Full/source article

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