Monday 15 January 2024

Government urged for stamp duty rebate on green home upgrades

The government is being urged to consider a stamp duty rebate aimed at incentivising homeowners to retrofit their properties.

The proposed 'Rebate to Renovate' scheme, backed by MPs and think tanks, aims to spur eco-friendly improvements within two years of a home purchase.

A recent report from the Better Homes Alliance emphasises the financial hurdle faced by households contemplating retrofitting, estimating upfront costs ranging from £8,000 to £12,000.

Despite this obstacle, the alliance's research suggests that enhancing a home's energy efficiency, including measures like loft insulation and double glazing, could lead to an annual £348 reduction in average household energy bills.

Energy Live News has contacted the Treasury for comment.