Homes with the best broadband are the cheapest!

November 22, 2019

With Labour’s plans to give away free broadband if they get elected, national fast sale estate agent, Springbok Properties, has looked at the current house price cost in areas with the best broadband speed and how it varies across the board.

Springbok Properties looked at each category of broadband speed across every constituency in the nation and how house prices in these areas corresponded, as well as looking at the best and worst areas when it comes to house price cost for every megabyte per second of broadband speed.

The data shows that on average, homebuyers are paying £5,324 in house price costs for every one of the 48.79 megabytes per second of broadband speed.

Perhaps surprisingly though, the lowest average house price is found in areas with the highest broadband speed, an average of £189,077 for homes with 70+mbps.

The sweetest spot for property values? Between 50Mpbs to 60Mbps with the average house price in areas with this broadband speed hitting £283,959.

But where is home to the best value?

When looking at the best value based on the cost of property paid for every Mbps of broadband speed, Liverpool Walton comes out on top with an average broadband speed of 61.3 and an average house price of just £75,000 meaning homeowners pay just £1,223 in property prices for every Mbps.

Kingston upon Hull East was the next best value (£1,253), with Burnley (£1,585), Great Grimsby (£1,605) and Aberavon (£1,624) also amongst some of the best value spots in the UK for a mix of house price value and good broadband speed.

At the other end of the table, the Cities of London and Westminster ranks as the worst constituency for broadband property price value. With an average house of £1,115,000 and a dire average broadband speed of 24Mbps, it costs home buyers £46,458 in property prices for every Mbps of broadband speed.

London dominates the worst value areas with Kensington, Westminster North, Chelsea and Fulham and Bermondsey and Old Southwark also amongst the worst value.

On a regional level, London is also the worst value at £9,066 for each Mbps, while the North East provides the best value at £2,670 for each Mbps.

Founder and CEO of Springbok Properties, Shepherd Ncube, commented: 

“It’s amazing how something like broadband has become such an integral part of our day to day lives that it now influences everything from political promises to home buyer choice, but while good broadband can clearly influence a buyer’s decision, it seems that the homes that benefit from the very fastest speeds are actually the most affordable of them all.

This suggests that although broadband speed is important, it isn’t the most influential bargaining chip when it comes to negotiating price as long as you aren’t stuck in the dark ages or in a Wifi blackspot.”

Broadband speed vs average house price
 
Broadband speed – Mbps
Average house price
Average cost per Mbps
 
48.79
£259,745
£5,324
Category – broadband speed (average download speed)
Average broadband speed (download)
Average house price
20 to 30 Mbps
28.33
£223,456
30 to 40 Mbps
33.80
£241,356
40 to 50 Mbps
45.23
£278,223
50 to 60 Mbps
55.59
£283,959
60 to 70 Mbps
64.04
£254,382
70 + Mbps
77.56
£189,077
Ranking –  value per Mbps by region/country
Region
Average House Price
Average Broadband Speed
Cost per Mbps
London
£474,601
52.4
£9,066
South East
£329,197
49.4
£6,661
East of England
£291,993
49.1
£5,942
South West
£260,158
46.7
£5,572
West Midlands
£201,273
50.5
£3,983
East Midlands
£194,219
50.8
£3,822
Yorkshire & Humber
£165,745
47.3
£3,501
North West
£167,683
49.8
£3,366
North East
£132,769
49.7
£2,670
Northern Ireland
£139,951
43.3
£3,235
Scotland
£155,029
46.0
£3,371
Wales
£164,433
39.4
£4,171
 
Ranking – by best value areas per Mbps
Constituency / location
Average House Price
Average Broadband Speed
Cost per Mbps
Liverpool, Walton
£75,000
61.3
£1,223
Kingston upon Hull East
£113,000
90.2
£1,253
Burnley
£90,000
56.8
£1,585
Great Grimsby
£119,125
74.2
£1,605
Aberavon
£105,250
64.8
£1,624
Middlesbrough
£109,995
64.9
£1,695
Kingston upon Hull West and Hessle
£115,000
67.3
£1,709
Swansea East
£115,000
66.6
£1,727
Stoke-on-Trent Central
£110,000
63.7
£1,727
Kingston upon Hull North
£126,000
72.3
£1,743
Hartlepool
£125,000
70.6
£1,771
Stockton North
£125,000
70.4
£1,776
Nottingham North
£123,000
69.1
£1,780
Redcar
£130,000
71.3
£1,823
Bootle
£125,000
68.5
£1,825
Ranking – by worst value areas per Mbps
Constituency / location
Average House Price
Average Broadband Speed
Cost per Mbps
Cities of London and Westminster
£1,115,000
24
£46,458
Kensington
£1,360,000
55.8
£24,373
Westminster North
£770,000
33.2
£23,193
Chelsea and Fulham
£950,000
46
£20,652
Bermondsey and Old Southwark
£600,000
35.9
£16,713
Hammersmith
£700,000
42.4
£16,509
Bethnal Green and Bow
£520,000
32.3
£16,099
Poplar and Limehouse
£472,000
30.6
£15,425
Chipping Barnet
£530,000
37
£14,324
Battersea
£720,000
50.3
£14,314
Beaconsfield
£530,000
38.3
£13,838
Islington South and Finsbury
£679,200
50.8
£13,370
Holborn and St Pancras
£722,000
54.1
£13,346
Saffron Walden
£420,000
32
£13,125
Hampstead and Kilburn
£755,000
57.8
£13,062

*House price data by constituency only freely available for England and Wales on a granular level, so while we were able to include Scotland and Northern Ireland within the top line statistics, we could not include them at consistency level.

Sources
Average house price
> Constituency
> Region-national level
Broadband speeds

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