Hyperoptic says it is on target to create its own fibrehood in London, and enable a 1Gb solution, which is designed to offer better last mile access from traditional copper.
The company claims the network will be 10 times faster than the speed of the nearest competitor and over 100 times faster than average broadband in the UK.
Covering 12 boroughs in London, Hyperoptic’s network presently reaches 10,000 homes and by the end of 2012 the company aims to service 20,000 homes, 100 major property developments and make 1Gb connections available to over half a million homes in the next five years.
“There is a clear need for speed in the UK,” said Boris Ivanovic, founder and chairman at Hyperoptic “It’s widely understood that the UK is one of the biggest users of technology with the internet contributing more to its economy than any other country in the world.”
Ivanovic said technology accounts for 8.3% of GDP in the UK, but the sector’s development is hindered by a lack of infrastructure, “meaning the UK doesn’t make the top 15 countries for broadband speeds”.
According to recent reports, broadband connectivity is also having a direct impact to the property market, and it has been suggested that homebuyers would pay 5% more for a property that was serviced by superfast broadband.
Hyperoptic said it has signed contracts with a number of property organisations to aid the roll-out of UK broadband initiatives. Felix Keen, head of property group Stonedale, added: “Fast broadband connectivity is no longer a nicety, it’s a necessity for our residents.”
