With the COP26 event taking place in the UK in November, it is understandable that many people are thinking about energy efficiency. It is also believed that energy-efficiency will become even more important when it comes to the housing market, with Government guidance expected to lean on greenness as we move forward.
Given that a more energy-efficient home saves money, it is easy to see why many people are interested in making as many suitable changes as possible.
However, there is also a feeling that not many people are as focused on energy-efficiency as they initially claim. While it is easy to say you are looking to make these changes, talk is cheap, and it might be there are many plausible reasons why people don’t get around to making changes.
A recent survey perhaps suggests that greenness isn’t as important to people as they claim it is.
Not many buyers review energy-efficiency issues when looking for a home
A study undertaken by the Energy Efficiency Infrastructure Group, which spoke to more than 2,000 adults, provided the following results:
Only 13% of respondents said energy-efficiency was something they considered when buying their home
There were considerable regional variations, with 26% of London buyers considering energy-efficiency but only 5% of Welsh buyers doing the same
29% of buyers aged between 18 and 34 considered energy-efficiency matters when looking for a home
Only one in six homeowners has serious plans to improve the energy efficiency of their home in the next five years
Energy concerns are real
David Adams, EEIG spokesperson, says: “Even with worries about energy supply, rocketing energy bills and climate change in the press daily, it’s clear from our research this isn’t prompting the magnitude of demand for home energy performance improvements necessary to solve these problems. Clearly, government intervention is necessary to change this trajectory, but so far short-term initiatives have failed to deliver the kind of sustained take up necessary. In the absence of any other viable approach to stimulate and support owner occupiers to act at scale, the EEIG is advocating for the government to deliver a green stamp duty incentive.”
David Adams continued by saying; “This will make energy efficient homes cheaper to buy and will remind those who are buying a lower performing home of the improvements that are likely to be necessary during their period of ownership. It will also encourage people to start thinking about potential improvements to their homes at the time of purchase and plan ahead to realise the rebate. It’s necessary that this type of policy is adopted rapidly to be fair to homeowners and to give the government the chance to reach its target of a 78 per cent reduction of UK greenhouse emissions by 2035.”
As local agents in Newton-le-Willows, we are keen to support vendors, buyers and landlords in the area as best we can. We offer an extensive range of services, aimed at helping you make your next move with confidence.
If you would like to arrange a property valuation, or discuss your property options, please call Fraser Reeves on 01925 222555.