House-hunters will pay up to £10k more for better connectivity, says Virgin Media O2

The majority of house-hunters would be willing to walk away from a property purchase if mobile connectivity isn’t up to par, claims Virgin Media O2.

Their data showed that 70% of house-hunters would not make an offer at all for an otherwise ideal home if the property’s mobile connectivity was lacking.

Broadband connectivity was also a priority, with 35% of buyers saying they’d prioritise broadband connectivity over a property’s transport links.

Almost 60% of respondents said that mobile and broadband network strength was a high priority when looking for a new property.

Over 31% of house-hunters would happily pay more for a property that has strong mobile connectivity, and 50% of buyers would prioritise properties that have good mobile signal.

A fifth of buyers said that they’d be willing to pay up to £10,000 more for a property that has strong connectivity. Renters also said they’d pay more for strong connectivity, with 25% saying they’d happily increase their monthly payment to stay connected at home.

The pandemic has driven a shift in priorities. Previously, an easy commute and a spare bedroom ranked amongst the top five considerations for house-hunters. However, those now looking to purchase a home have voiced a preference for good walking routes and broadband strength.

Proximity to the workplace has become less important for those looking to purchase a new home. Only 26% of respondents listed this as an important factor, whereas 33% prioritised this prior to the pandemic.

Chief Technology Officer at Virgin Media O2, Jeanie York, said: “The past year has taught us the importance of staying connected, so we are investing more in our network in 2021 than ever before. We’ve responded to the rise in nomadic working and the need for strong connectivity within the home to enable this trend to continue. We know our customers are factoring connectivity into major decisions regarding their home and work life, so as the mobile network voted best for mobile reliability and coverage, we want to help make things easier for everyone as we upgrade the UK.

“We’re proud to have delivered a 4G boost in over thirty thousand postcodes this year alone, and are committed to bringing together next-generation gigabit broadband and 5G services, as we expand our network reach across the country.”