Three in four prospective buyers are prepared to pay more for an energy-efficient home as concerns grow that properties with poor EPC ratings could become harder to sell.
Research from Together finds 74% of people would pay a premium for better energy efficiency, with buyers prepared to spend an average £5,293 more.
At the same time, 73% are concerned homes with poor energy efficiency will become increasingly difficult to sell over the next five years.
Running costs are also influencing property searches, with 45% saying low energy bills are now among the most important considerations when buying a home.
COST BARRIER
The findings suggest energy efficiency is becoming increasingly important to both the attractiveness and perceived future saleability of homes.
However, the cost of improving existing properties remains a significant obstacle.
Half of those surveyed identify cost as the biggest barrier to making energy-efficiency improvements, while 34% are considering upgrades but say they cannot afford them.
Almost two-thirds – 63% – say they would be more likely to make improvements if affordable finance was available.
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.”
EPC DIVIDE
Separate analysis by Together reveals significant differences in EPC performance across England and Wales.
Tower Hamlets has the highest proportion of homes achieving EPC Band 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 properties in the Isles of Scilly achieve Band C or better.
Gwynedd follows at 27.79%, with Ceredigion at 31.51% and Staffordshire Moorlands at 31.66%.
Buyer preferences are also changing, with 41% looking for solar panels, 34% seeking triple glazing and 25% considering loft insulation when searching for a home.
One in seven buyers says higher energy bills would be enough to rule out a property altogether.
