Just 1.2% of UK homes for sale come with air conditioning new research by Benham & Reeves reveals.
London offers the greatest availability, yet even in the capital just 2.3% of properties on the market include air conditioning.
The East of England follows on 1.5% and the South East on 1.1%. In the Midlands, the feature is all but non-existent, with only 1.0% of homes in the East Midlands and 0.6% in the West Midlands advertising air-cooled interiors.
But homeowners weighing the cost and benefit of retrofitted systems may find marginal gains.
AIR CON BENEFITS
While air conditioning installation may not yet be mainstream, its growing appeal in both sales and rental markets suggests the feature could shift from luxury to near-essential as the UK climate warms.
Sellers contemplating improvements may wish to weigh upfront costs against potential rental premiums, especially in university towns and global hub cities where demand for short-term lets remains robust.
On average, installing an air-conditioning unit carries a capital outlay of around £3,000 but adds only 2.5% to a property’s value. Against the current average English house price of £290,395, this equates to a gross uplift of £7,260 – netting just £4,260 after installation costs. In London, however, higher property values mean the net benefit can reach £11,141.
LUXURY, NOT NECESSITY
Marc von Grundherr, Director of Benham & Reeves, says: “With a particularly hot summer so far, homebuyers could be understandably tempted by properties offering air conditioning as a way to beat the heat.
“However, they may be hard pressed to find a property that fits the bill, with homes complete with air conditioning accounting for a very small proportion of current for sale stock.
“Of course, whilst it’s undoubtedly getting hotter, air conditioning remains more of a luxury than a necessity in the UK and so it’s unlikely to hold broad appeal and, therefore, won’t bring about much of a boost to the value of your home.
“But as our summers continue to get hotter, it’s entirely possible that air conditioning could become a necessity for many buyers, and its inclusion may well become a sought-after feature in the years to come.
“It’s already a feature that is in high demand within the rental market and we tend to see properties offering air conditioning attract a premium of anywhere between 10% and 20%, particularly those offering shorter term rentals aimed at international renters during the summer months, for whom air conditioning is a must have.”
