Recent research from OVO shows that more UK residents are favoring energy-efficient homes. They see it as a way to save money and help the environment. This change is affecting the housing market, with buyers and investors showing a clear preference for eco-friendly features. This boosts the value of these properties.
Around 66% of potential homebuyers want homes with sustainable features. They aim to cut down on living costs while also doing their bit for the environment. A study by Rightmove found that improving a home’s energy efficiency can significantly increase its resale value. Because of this, homeowners are spending more on green upgrades, with solar panels being a popular choice.
Key Takeaways
- Demand for Energy-Efficient Homes Rises in the UK: Driven by the desire to cut costs and environmental impact.
- Eco-Friendly Features Boost Property Values: Green tech and sustainability increase attractiveness and market value.
- Green Upgrades Enhance Property Appeal: Investments, especially in solar panels, improve attractiveness and value.
- High EPC Ratings Benefit Sellers: Shows that improving energy efficiency is lucrative in the property market.
The Preference for Energy-Efficient Properties
Did you know that making your property more energy-efficient, like adding solar panels or triple-glazed windows, could increase its value by up to 15%? Surprisingly, in today’s market, two-thirds of buyers prioritise eco-friendly features and prefer homes that have them.
Green is the New Black in the Property Market
By 2024, the top features to look for in new homes in the UK will include solar panels, electric car charging points, and smart meters. Embracing eco-friendly upgrades not only benefits the environment but also saves money in the long run. In fact, approximately 45% of people believe they will spend less on energy bills with these green changes, making it a wise financial decision.
Moreover, improving a home’s energy efficiency, such as upgrading its energy rating, could increase its value by up to £44,672, based on current property values. Despite many homes lacking energy efficiency, a large majority of homeowners are willing to invest in making their homes more energy-efficient. An impressive 83% are prepared to make these updates, with some willing to spend over £5,000.
The Green Living Guide for Buyers
The eco-conscious homebuyer’s shopping list often includes LED lighting and energy-efficient boilers. They seek the highest energy efficiency ratings. This eco-friendly living trend is driven by the desire to benefit the community and fight climate change. Most purchasers now look for sustainable home features, indicating a significant shift in consumer priorities.
Over a third of homebuyers prefer homes with green technologies like solar panels, high-performance windows, and superior roof insulation. The goals are to lower energy costs, improve efficiency, and reduce carbon footprints. Sustainability will remain a focus. Future desirable home upgrades include solar panels, electric vehicle charging stations, and smart meters. This reflects a long-term commitment to eco-friendly living and design.
The Role of Platforms in Facilitating Green Property Searches
Responding to a surge in demand for eco-friendly homes, platforms like OnTheMarket are revolutionising how buyers locate such properties. Features like the ‘greener choice’ filter make identifying homes with eco-credentials—such as energy-saving appliances, superior EPC ratings, and sustainable features—effortless for potential buyers.
Statistics Breakdown
According to OVO’s data, over a third of prospective buyers say they would be more likely to make an offer on a home with eco-minded installations such as solar panels, alongside triple-glazed windows and roof insulation.
Of those planning to install green technology in their home in 2024 the top motivators to do so are:
- Save money on energy bills (49%)
- Improve the energy efficiency of their home (40%)
- Help reduce their carbon footprint (36%)
- Improve the EPC rating of their home (30%)
- Increase the value of their home (29%)
And the most anticipated upgrades are:
- Solar panels (26%)
- Electric vehicle charging point (23%)
- Installing a smart meter (23%)
- Wall insulation (21%)
- Smart thermostat (20%)
The Road Ahead: A Green Horizon for UK’s Property Market
Increasingly, people in the UK desire energy-saving homes because they not only save money but also help the environment, and can even increase home values. Consequently, buyers are now seeking homes that use less energy. Therefore, sellers and investors can benefit significantly by making homes more eco-friendly. Moreover, websites that assist in finding these green homes are crucial for meeting this demand and improving the housing market.
FAQs
What makes a property eco-friendly?
An eco-friendly property is designed with sustainability in mind; consequently, it utilises materials and technologies that reduce its carbon footprint and improve energy efficiency. Moreover, key features often include solar panels, energy-efficient appliances, superior insulation, and, furthermore, triple-glazed windows, as well as systems for rainwater harvesting and greywater recycling.
How can I find out the EPC rating of a property?
The Energy Performance Certificate (EPC) rating of a property in the UK can notably be found on the EPC Register website. Firstly, simply enter the property’s address or, alternatively, the EPC report’s reference number. Consequently, you’ll be able to view its energy efficiency rating and, furthermore, recommendations for improvement.
What is the ‘greener choice’ filter on property search platforms?
The ‘greener choice’ filter, notably, is a feature on some property search platforms that allows buyers to specifically search for homes with eco-friendly credentials. This includes, for instance, properties with higher EPC ratings, solar panels, energy-saving appliances, and other sustainable features. Consequently, making it easier for eco-conscious buyers to find their ideal green home.
