Remote Working Shifting Demands In Housing Market

Remote Working Shifting Demands In Housing Market

At Coakley & Theaker, we know buyer demands have changed because of the events of the past few years. People want more space inside and outside of their home, and with many people working from home, there is a greater need for dependable broadband services.

Given the way we live our lives online, this isn’t a surprise, and even homes which don’t have a remote worker in them will benefit from better broadband. However, for the people on Zoom calls and video chat throughout the working day, this feature is likely to be a crucial component for buyers.

Remote working is likely here to stay

Alex Hall-Chen, Senior Policy Adviser at the Institute of Directors (IoD), was quoted by the Daily Express as saying; “After almost two years of mixed experiences with remote working during the pandemic, many business leaders are taking a hybrid stance into the future. Different organisations have different needs, and they should be allowed to work with their employees to find the best solutions. Flexible working can be a powerful tool in improving employees’ work/life balance and job satisfaction, as well as in engaging sections of the population underrepresented in the workforce such as disabled people, parents and carers, all of which contribute to a more engaged and productive workforce.”

There will be positivity surrounding the Government estimate that 65% of all homes will be able to access networks which are capable of gigabit connectivity. This is up significantly from the 11% coverage that was recorded in November 2019.

There are also plans in place to increase accessibility to gigabit connectivity to 85% by 2025. Currently, legislation is being discussed that will require new build homes to be built for gigabit infrastructure and connectivity.

If this comes off, it will save a lot of time and disruption, while also creating more dependability for homeowners when it comes to getting online.

According to new research from Warwick Estates, the vast majority of UK homebuyers back the government’s proposal to ensure that all new homes are delivered to the market with gigabit infrastructure and connectivity.

New research carried out by Warwick Estates indicates broadband connectivity is more important than ever. 97% of respondents agreed that these proposals are a good idea. The study also found:

• 78% of respondents said it was very important to have a good level of internet connectivity within the home

• 20% of respondents said it was somewhat important

• Only 2% of people who responded found a good level of internet connectivity to be of little importance

Other findings include:

• 93% of homeowners expect to have the highest standard of connectivity possible when they buy a new home

• 71% of respondents say they wouldn’t pay the asking price for a new property if the best standard of connectivity wasn’t on offer

• 82% of respondents said the developer should pay the cost of upgrading connectivity if it wasn’t to a suitable standard

Contact Coakley & Theaker for all your Bury St Edmunds property market needs

At Coakley & Theaker, we aim to support the local community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today by calling us on 01284 769691.