UK broadband users have never had it so good, according to research from consumer website uSwitch.

Broadband prices have fallen 36 per cent in the past four years, while average speeds have risen from 0.5Mbps to 8Mbps.

But nearly five million consumers are still on old contracts, at a cost of £163m a year.

Steve Weller, head of communications services at uSwitch, said: "With broadband the cheapest and the fastest it has ever been, our love affair with the internet is set to reach great heights this year.

"We predict that prices will stabilise, but customers will be offered more for their money as ISPs continue to increase speeds.

"We advise the three million customers currently not in a contract to kick-start 2008 by snapping up a new broadband deal."

The report highlighted Orange as offering the most expensive broadband for the past five years.

Virgin Media provides the fastest services, according to uSwitch, and recently announced plans to offer 50Mbps connections next year.

Virgin Media also topped the chart for the fastest falling prices, logging a 63 per cent cut in four years.