House remains on market for decade because of poor broadband header image

A house in Wales has been on the market without a buyer coming forward for ten years because of poor broadband and mobile phone connections.

The property, which is located in the rural village of Gwytherin, was originally put on the market in the spring of 2004, well before the recession arrived and stalled the housing market, reports the Daily Mail.

However, despite being in one of the most picturesque areas of the country, the £175,000 valuation was not enough to tempt anyone who came to view the property. Three years after going on sale, the asking price was then reduced to £170,000, but still it failed to drum up any interest.

After speaking to those who had viewed the property but chosen not to take it up, it was revealed below par broadband speeds were at the centre of their decision to turn it down.

The house is served by a telephone exchange in the town of Llangernyw, but this means that download speeds are below two Mbps, meaning they fall way short of the UK average.

Spokesman for the Royal Institution of Chartered Surveyors Tony Filice explained that it is extremely rare for a property to remain on the market for this amount of time, admitting that increasing reliance on super-fast broadband is having more and more of an influence on buyers when viewing properties in rural areas.

He said: "Ten years would have to be a record. In the last recession it wouldn't have been uncommon for a house to have been on for two or three years but that was because of the economy. But it is unheard of for a house to be on the market for a decade."

Homes and businesses throughout the UK are currently having their connectivity upgraded thanks to the government's Broadband Delivery UK Scheme. 

However, with some remote rural areas set to miss out on the project, there are worries that people living in these areas could see their homes fall in value.