Monday 21 March 2022

How is energy efficiency impacting homebuyers?

Almost three-quarters of Brits are worried about the energy performance of their current home, with a quarter stating efficiency levels will be critical in their next move.

That’s according to a new study by the Home Builders Federation (HBF), which looked to uncover how energy efficiency is changing the housing market.

It surveyed 2,000 people across the UK, with the main finding being that sustainability is now a top priority when people are deciding where to live – boosted by the current situation of rocketing energy prices.

Respondents rated a good EPC rating and whether the house was ‘eco-friendly’ as the second and third most important factors for buying a new property, with ‘private outdoor space’ taking first place.

HBF also revealed that new build homes save buyers on average £395 per year on heating bills, £28 on hot water and £12 on lighting. From its sample, it found that owners of older buildings paid an average of £890, with new homeowners paying almost half this at £455.

Sustainability is seemingly becoming more front-of-mind in how Brits live their lives, as respondents revealed that how they throw things away, what food they buy and what they eat are now all key decisions in their daily lives – on top of making their homes more sustainable.

HBF’s Executive Chairman Stewart Baseley said: “These results suggest we’re now entering the era of energy efficiency becoming an ever more crucial factor in how we select our next home – and with energy bills rising it’s never been more important for homebuyers to weigh up these costs as they consider their next move.

“This research highlights the crucial role that residential developers play in not only making UK housing stock more sustainable and energy efficient overall but also meeting the demand of an increasingly eco-savvy public who want to cut down their energy bills and live in more sustainable homes.”