Savvy developers take note – fast broadband, via services over the nbn network, is increasingly making top spot on the list of priorities for new home buyers.1
Once relegated to the wish lists of many a house hunter, broadband internet is now becoming a must-have, as Julian Nachmias, nbn General Manager of Build Partnerships points out, “For many buyers, a fast internet connection is no longer a luxury, it’s an expected addition to Australian properties”.
The difference is material for property developers; “Two thirds (66%) of Aussie buyers say they would negotiate a lower price or even reject their potential home altogether (16%), if fast broadband, such as via services over the nbn network, is not available”.2
Read more: How important is the nbn for new home buyers?
Wires and wherefores
This change in thinking has been fairly sudden; according to Nachmias, “We’ve done a lot of surveys and one of those surveys found that 80% of buyers say that a reliable broadband connection is a key consideration when searching for a property. A few years ago, that figure was sitting at only 10%”.3
Fast broadband is no longer a luxury – it’s a “must-have”. Picture: Getty
The proliferation of devices in our homes, many of which require an internet connection to function properly, and the shift towards working from home, have likely underpinned this change.
“For the first time, we’re starting to see people actually walk into a sales display office and ask the question: has this got high-speed broadband or are services over the nbn network available here?” Nachmias says.
This provides an opportunity for developers to pivot, add value to their properties, and attract more buyers.
There are three steps developers can take to help ensure their new properties are “nbn-ready”: Early planning, applying for nbn, and design, build and installation.
Early planning
Early planning is critical; nbn asks that developers apply at least three months before civil works commence, as nbn may need to provide new infrastructure to your development.
It’s recommended you start thinking about incorporating nbn into your construction plans when you have your planning permits and have appointed a builder.
Applying for nbn
Early planning will help streamline the online application process, which includes a pre-qualification tool to help you get all of the relevant information together.
While a given development only requires one application, it’s important to note that each additional stage in your development (construction, civil works, titles released) will require an additional submission.
Designing, building and installing
It’s important to understand what responsibilities you have as a developer, for example, the design and build of the Lead-in Conduits (LICs), pathway works, or pit and pipe works.
nbn will provide standards for these works (in the form of checklists and guidelines), which must be met, before you can obtain certification and the network can be installed.
Having a correct understanding of the requirements is critical.
“Ensuring that some infrastructure is in place – such as having conduits in the correct spot and that your property is in line with nbn requirements – is vital,” says Nachmias.
Read more: High demand for apartments in nbn-ready suburbs
Savvy property developers need to ensure new homes are nbn-ready.
Be buyer ready
According to REA Group data, for apartment searches Australia-wide on realestate.com.au, the most popular suburbs are virtually all able to order a service over the nbn network.
Shrewd developers should expect buyers to ask questions, and be ready with the right answers.
“Anyone looking to renovate or build a new home should consider getting nbn-ready,” says Nachmias. “This starts by asking your developer if they have applied to have the nbn network delivered, and then working with your builder and cabler to ensure your home is set up for your tech needs.”
“Look at the average home today; you’ve got on average 10 connected devices accessing the internet. By 2020 we’re expecting the number of devices to triple to 29.”5
With that kind of growth, fast internet is quickly becoming a nonnegotiable in new properties, and therefore something developers should seriously consider.
1-4 Source: nbn Ready Homes report, 2016
5 Source: Internet Uninterrupted: Australian Households of the Connected Future, Telsyte, 2016
