Economy

Property’s energy efficiency ‘important’ to nine in 10 home buyers

Would you prefer insulation to a large garden? These are the top energy-saving features Britons love most when buying a home.

  • Nearly 9/10 property buyers regard energy efficiency as a ‘critical’ issue   
  • Research shows that more than half of those surveyed are interested in a home with good insulation.
  • A fifth of Britons would not consider buying a house with an Energy Performance Certificate (EPC) below grade C. 
  • We take a look at the energy-saving options that house hunters most want. 

New research shows that house hunters are increasingly concerned about energy efficiency, as high-cost bills continue to be a problem. 

According to Bloomberg Intelligence research, nearly nine out of 10 prospective buyers consider the energy efficiency of a house very important (88%) according to Bloomberg Intelligence.

A separate study from Mortgage Advice Bureau found that nearly half of potential buyers (46%) would prefer insulation to a larger garden.

It’s the best! Government Plans were announced to grant grants to middle-income households to improve their insulation. This extends a scheme that was already available to those with lower incomes. 

With rising energy costs, 88% would-be buyers regard the energy efficiency as very or very important. 45% consider it very important.

This is in line with Bloomberg Intelligence’s research, which revealed that 55% of home buyers are looking for well-insulated properties, making them the most energy efficient.

Nearly four out of ten respondents said they would like a modern, efficient boiler. A similar number also mentioned double-glazed windows.

Heating pumps were less popular than they used to be, with only 12% saying that they wanted one in the next home. 

Homeowners may apply for a Government Grant to have one of these devices installed, which can replace a traditional boiler.

Bloomberg surveyed nearly 25% of respondents to its survey and found that Energy Performance Certificates were more important than other certificates. Nearly 25% of respondents said they were seeking an EPC rating of A or B. 

The Grass Isn'T Always Greener: 46% Of Britons Say Good Insulation Is Preferred Over A Larger Garden When It Comes To Looking For A New Home

Not all grass is greener. 46% of Britons agree that insulation is more important than a larger garden when looking for a home. 

EPC is a rating system that assigns properties A to G. A ratings are the most efficient, while G ratings are the least efficient. A D is the most common EPC rating used for UK homes.  

Some lenders offer cashback or slightly reduced mortgage rates to property owners with an EPC rating A or B.

According to Mortgage Advice Bureau research, half of Britons would not consider a house that has an EPC below grade C.

Poll

How important is energy efficiency when purchasing a home?

  • Very important 14 votes
  • It is important 11 votes
  • Not important 6 votes

Brian Murphy, Mortgage Advice Bureau head of lending, said that buyers are increasingly placing more importance on energy efficiency. Owners who have a higher EPC will likely pay lower energy bills.

“This is something that everyone is interested in, with the cost to live crisis showing no signs whatsoever.

‘What many might not know is that in buying a higher rated property, you could also become eligible for a green mortgage, a specialist mortgage for someone with an environmentally-friendly home.

“This means you will not only get a discount on your energy bills but also a lower mortgage rate.

Bloomberg Intelligence discovered that urban young homebuyers are most likely to prioritize energy efficiency.

Londoners were more likely than Britons to consider energy efficiency very important than Britons from other parts of the UK. First-time buyers were also more likely to mention energy efficiency as very important than the average.

Deal Maker: Some Mortgage Lenders Also Offer Discounted Rates Or Cashback To Those Buying A Property With An Epc Of A Or B

Deal maker: Some mortgage lenders also offer discounted rates or cashback to those buying a property with an EPC of A or B

Their selection of key energy-efficient features was less than most. 

Iwona Hoopenko, real-estate analyst at Bloomberg Intelligence, stated: “First-time buyers, especially London, are much more likely than average that they say energy efficiency is very important to their lives in our survey. Energy efficiency is key for 90% of all buyers.

“However their selection of key energy-efficient features is aligned to most respondents but places less emphasis on insulation or efficient boilers, indicating a possible lack of knowledge.

“Notably simple energy-saving features are preferred by buyers over more complex heat pumps.

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Jacky

The author of what'snew2day.com is dedicated to keeping you up-to-date on the latest news and information.

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