As the National Broadband Network (NBN) rollout continues, sales people and property buyers are both confirming the positive effect on prices and lifestyle.
At the end of last year Deputy PM Anthony Albanese said that the coalition’s fibre to node scheme would add $5000 value to homes. Property analysts were sceptical at the time of the dollar value, but since then developers and their clients in NBN areas agree with Mr Albanese.
As part of the building approval process QM Properties in Queensland provide ‘pit and pipe’ infrastructure which the NBN then connects to homes. Their estates in Coomera Retreat and The Fairways, as well as Jimboomba Woods all have the technology that nationwide is driving house and land sales.
In Tasmania, for example, the Real Estate Institute of Tasmania President Adrian Kelly said that the NBN was now one of the first questions asked by potential buyers. At the other end of the scale, Melbourne inner CBD project ‘Art on the Park’ was one of the first high rises with NBN. Development Director Simon Barn also confirmed that this was high on the shopping list for investor owned properties.
In Jimboomba Woods, 25 lots and five completed homes have an NBN connection. QM Sales Consultant Hemish Dekker believes that the NBN had a strong proactive impact on sales.
“I’ll be honest, I didn’t realize how important this would be for buyers,” said Hemish. “People, particularly gen X and Y, ask for it first before any other questions and it really has given us the advantage over nearby developments without NBN.”
“Also, builders are keen to get into our new display village at Jimboomba, because they realize the value that the NBN adds, so it has caused a knock on effect,” he said.
“First home buyers, usually young people are happy to live in semi-rural areas like Jimboomba Woods, providing they have fast internet access,” said QM Properties Sales Manager, Damien Ross. “We know they miss the urban lifestyle, but they are willing to forego that for an affordable home with NBN.”
Luke and Caitlin Dunning have been in their home at Jimboomba Woods for three months, running their successful business ‘Umbrella Creative’ from a home office.
Luke is a web designer and Caitlin a graphic designer, with national high profile clients like Rio Tinto.
“For us to work from the home office, high speed internet is not a wish, it’s absolutely imperative,” said Luke. “It’s more the upload speed than the download speed that is crucial to us, and we also needed a really good internet provider like Skymesh.”
“We also use it for entertainment, like the television series we live stream and x-box,” he said.
Luke and Caitlin, in their early thirties with two children, selected a GJ Gardner house for their first home purchase.
Likewise, Brendon Hargrave and his partner Samantha, made Jimboomba their choice based entirely on the NBN feature.
At only 21, Brendon is a high internet user, and was impressed to find the NBN was five times faster than the old ADSL.
“As a big footy fan, I watch NRL on demand, video highlights, live stream whole movies, television episodes and movies even on my Facebook, all in our media room,” said Brandon. “The old copper lines were hopeless and the ADSL was extremely slow.”
For the tech savvy generation, the NBN is a major selling point, with 100 megabits per second on offer compared to 25 mbps on the old ADSL.
Jimboomba Woods was also a convenient choice of location as Brendon works at the Gold Coast and Samantha at Logan.
“We see young couples come in to the sales office with their smart phones and tablets and know they love the live streaming, pay TV and TV on demand,” said Hemish. “And the NBN question is the first they ask.”
“It is difficult to put a price or figure like $5000 on it,” said Damien. “But it certainly has given us the edge over our competition.”