Did you know?
9 December 2022Forget the ‘race for space’ or room for an extension, it’s the green features of a property that are really coming into play.
- Research by Admiral Money has found that buyers may be willing to pay up to a quarter more for a property with a decent energy performance certificate rating.
- A survey of 2,000 people by the loan provider found that three in four buyers are influenced by energy saving features when purchasing a property, with people saying they’d pay 24% more for homes with an energy performance (EPC) rating of C or higher.
- Concerns around EPC ratings are at the forefront of buyers' minds, with 67% saying they’d ask to see the EPC rating prior to purchasing a property and a further 35% saying they would be put off purchasing an older property due to concerns around its energy efficiency.
- The analysis also claims environmentally friendly or green features can boost a property’s value by up to 25% in some cases.
- It analysed agreed sale prices on Rightmove across 13 cities with homes that featured green keywords including solar, heat pumps, insultation, triple glazing, low carbon and hive.
- It then compared the prices with similar homes that didn’t have these features.
- Based on this, the research describes solar panels as the best green investment for sellers, adding 25% to the value of their homes.
- The second most valuable investment was insulation, as homes with this feature were selling for an additional 22% in comparison to similar properties in the same area.
- Heat pumps were also seen to add up to 10% property value.
- From 2025, all newly rented properties will be required to have an EPC rating of C or above. Currently properties only require an EPC rating of 'E' or above. Existing tenancies will have until 2028 to comply with the new rule changes.