Australians are gobbling up NBN Co's faster, cheaper speeds - and there's another round of better offers coming soon

Moar speed! Picture: Getty Images

The number of Australian homes and businesses experiencing 50Mbps NBN speeds has quadrupled in the past year.

NBN Co’s March monthly progress report found 37 per cent of homes and business were accessing 50Mpbs fixed line NBN speeds, compared to 16 per cent a year ago. That equates to an increase of more than a million homes and businesses on top of around 320,000 this time last year.

NBN Co claims that’s due to a recent wholesale promotion to retailers which allows them to offer discounted pricing on higher speed plans as well as a 50 per cent boost of additional bandwidth.

Telstra began upgrading more than 850,000 customers from 25Mbps to 50Mbps plans in February.

“Three months ago we had less than one in 15 users connected to our ‘sweet spot’ wholesale 50Mbps plans – today we have more than one in four signed-up to them for better value than what they would have previously been paying,” NBN Co’s chief customer officer residential, Brad Whitcomb, said.

That “sweet spot” claim can be seen in a drop in uptake of 100Mbps, which fell 0.7 per cent to 11 per cent over the same time period.

And there has been a huge cut in average congestion, down to 18 minutes per week compared to nearly 7 hours per week in March 2017.

Another round of new wholesale broadband bundles will be available in May 2018.

The rollout of the network is now more than halfway built. NBN Co’s monthly progress report noted that more than 6.5 million Australian homes and businesses are now able to connect to the nbn, compared to 4.5 million in March 2017.

So far, 3.7 million homes and businesses have connected, up from 2 million a year ago.

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