However, it is only available to just 3% of United Kingdom homes and offices.
"The measures we've set out today will support the growing number of companies who have already announced plans to build full-fibre networks, and open the way for even more ambitious investment around the United Kingdom".
It also called on BT to make telegraph poles and underground tunnels more easily available to rivals.
According to Ofcom this move will cut the upfront cost of laying fibre cables by around 50 per cent, as well as reducing the amount of time they need to spend digging.
Ofcom suggested streets could be connected to full fibre in "hours" rather than days, as companies would no longer have to dig up roads to lay fibre.
Ofcom's move not only protects customers in today's market, but also ensures Openreach and others are encouraged to invest in the full fibre networks of tomorrow.According to BBC News these measures also mean the cost of connecting a home to a full-fibre network will be reduced from £500 to £250 - which should prevent high costs being passed onto customers.
Ofcom says that the transition to full-fibre broadband will take a while, so in the meantime it will be working with BT Openreach (the company responsible for the broadband infrastructure) to make sure the existing network works well.
Ofcom now believes that overlapping fast fibre networks built by BT and its rivals will deliver more innovation and a better deal for consumers. After consulting on the matter, this is to be increased to £11.92.
What are the new measures?
"Since we put these forward, strong momentum has built towards full-fibre broadband in the United Kingdom".
And earlier this month TalkTalk announced that it intends to build a full fibre to the premise (FTTP) network to some 3 million homes and businesses in the UK.
Hyperoptic aims to cover five million premises with full fibre by 2025.
BT's network division, Openreach - recently pledged to bring high-speed broadband to three million United Kingdom premises by the end of 2020 as part of its newly launched "fibre first" programme (see Openreach fibre first to "fire the starting pistol" on major infrastructure upgrade).
"Today's measures are created to help deliver this and promote further investment beyond these ambitions".
However, Ofcom said it will roll out new stricter rules forcing BT's infrastructure arm to "repair faults and install new broadband lines more quickly".
Complete at least 88% of fault repairs within one or two working days of being notified.
These new requirements must be met by 2020/21.
"Today's statement from Ofcom gives us certainty on the pricing of key products for the next three years", the company said.
BT commented on the measures in a statement, noting that the price changes in Ofcom's Wholesale Local Access will have a year on year adverse financial impact on Openreach's revenue and profit in 2018/19 of between £80 million and £120 million. There will also be year-on-year impacts on Openreach in the range of low to mid tens of millions of pounds in each of the two successive financial years.
"Additionally, Openreach's cost base will increase as a result of meeting the more demanding minimum service levels required in WLA markets".
Ofcom has unveiled proposed new caps on the wholesale prices that Openreach can charge to rivals, leading to BT-owned company to warn revenues and profits would dip in the next three financial years.
"The net impact at the Group level will depend on the retail market dynamics", the former telecoms monopoly concluded.
Addressing the restriction on varying its wholesale prices, BT said it was "considering the implications for full and fair competition".
It should be noted that Openreach already planned to reach 12 million homes by the end of the decade using a combination of fibre to the premise (FTTP) and G.Fast, which speeds up copper connections.
"This helps to explain why after over a 90% rollout of superfast broadband across the United Kingdom, 16% of small businesses still do not have superfast access compared to 9% of premises as a whole", said Chris Richards, head of business environment policy at EEF.