How High-Speed Internet is Impacting the Nova Scotia Housing Market

 

How High-Speed Internet is Impacting the Nova Scotia Housing Market

 

The Nova Scotia housing market has been on fire the last few years and high-speed internet has been a feature that the majority of buyers require who are considering a move here. 

 

The past two years of the Covid-19 pandemic have taught Canada and the world, just how flexible one’s work-space can really be. This newfound ability to work and learn remotely depends greatly on the availability of high-speed internet. 

 

This fact impressed a sense of urgency on the Canadian provinces, especially the mostly rural, province of Nova Scotia, to get high speed out to its most remote of communities. 

 

NS Government Steps Up

 

The NS provincial government established The Nova Scotia Internet Trust Fund, a $193 million fund in 2018 to bring access to high-speed Internet to 95% and as close to 100% of Nova Scotian homes and businesses accessibility as possible.

 

Develop Nova Scotia is the Crown Corporation that was engaged by the Nova Scotia Internet Funding Trust to plan, design, and manage the implementation of the Internet for Nova Scotia Initiative.

 

Providers under this initiative must meet or exceed provincial speed targets of 50 Mbps for wired connections and 25 Mbps for wireless and all solutions must be designed to keep pace with changing technology.

 

Currently, 80% of Nova Scotia homes and businesses enjoy access to the network infrastructure that can provide high-speed internet – with more being installed every day.

 

Projects are currently underway that will deliver reliable, high-speed Internet to 99% of homes and businesses in Nova Scotia. This includes municipal-led projects in Annapolis and Pictou counties. 

 

Housing Market Impact

 

For the Nova Scotia housing market, this means that buyers who want to work or learn from home can expand their home buyer search to more rural areas, which in turn takes some of the current buying frenzies off of the more urban locations. Typically, the farther from these city centers, the lower the home prices as well.

 

Buyers coming from out of province should not assume, the home they are interested in has the level of high speed they require to meet work requirements. If this is a deal-breaker for them going through with a home purchase, then they should have their offer conditional on being able to confirm internet service levels to their satisfaction. 

 

There has been more than one fallen sale due to high speed not being available to the new home buyers in an acceptable time frame. 

 

In Summary

 

Overall, it is anticipated that all homes and businesses as part of the Internet for Nova Scotia Initiative will have access to an improved network by the end of or before 2023.

 

This Nova Scotia projection of 99% coverage will be the greatest of all Canadian provinces.

With COVID-19 in play, Develop NS worked with Internet Service Providers to review all current projects to go faster where possible. Some acceleration efforts took place for first-round projects with up to $15M used from the Trust as part of the $193M.

 

To check if high-speed internet is available where ever one plans to move/stay, 

simply input the address at this link and find out which Internet Service Providers operate in that area and what services they provide. 

 

To find out which Nova Scotia communities are next on the project list, click here to see if projects have been announced for that area, what type of technology will be available, and expected completion dates for the project.