Three in four Britons would pay more for an energy-efficient home as EPC ratings become an increasingly important consideration for buyers, new research reveals.
Some 74% say they would be prepared to pay a premium for a more energy-efficient property, with the average additional amount put at £5,293.
Meanwhile, 73% are concerned that homes with poor energy efficiency could become increasingly difficult to sell over the next five years.
The study of 2,000 UK adults by property finance lender Together also finds that 45% now consider low energy bills one of the most important factors when buying a home.
BUYER PRIORITIES
Higher running costs could directly affect transactions, with 15% saying increased energy bills would be a dealbreaker when purchasing a property.
Energy-saving features are also appearing on buyers’ wish lists, with 41% looking for solar panels, 34% triple glazing and 25% loft insulation.
However, improving existing housing stock remains a challenge. Half of respondents identify the cost of improvements as the biggest barrier to upgrading their homes, while 34% say they are considering energy-efficiency improvements but cannot afford them.
EPC DIVIDE
Separate analysis by Together reveals substantial differences in EPC performance across England and Wales.
Tower Hamlets has the highest proportion of homes rated EPC C or above at 82.21%, followed by Knowsley at 74.4% and Salford at 71.18%.
At the other end of the table, just 12.42% of homes in the Isles of Scilly achieve EPC C or better, followed by Gwynedd at 27.79% and Ceredigion at 31.51%.
Ryan Etchells (main picture, inset), Chief Commercial Officer at Together, says: “Energy efficiency is a key part of affordability, so homes with lower running costs are becoming more attractive.
“While owners of less efficient properties may need to invest more upfront to save money in the long run, the benefits of home improvements can counter the costs.”
