|"Green Properties Sell Faster and Are Worth More"|
‘Carbon appeal' set to replace 'kerb appeal' when it comes to swaying buyers
Buyers are willing to pay an average of £3,350 more for a green home.
New research from the Energy Saving Trust reveals that energy efficient homes could be a vital driver to keeping the property market moving, with 'carbon appeal' set to replace 'kerb appeal' when it comes to swaying buyers. The study reveals that half of UK homeowners believe homes with greener features are easier to sell in the current market and 53% of all householders say they would be willing to pay extra for them.
The research reveals however, that estate agents could be under-selling the value of greener homes through a lack of information.
Despite the fact that householders are willing to pay on average £3,350 more for a 'green' home, almost half (49%) feel that estate agents don't put enough value on a home's green features and 56 per cent feel that estate agents don't know enough about energy efficiency performance. There is a clear appetite for clearer information however, as two-thirds (66%) of householders would like more guidance from estate agents on the likely running costs of a home.
Bartering power of EPCs
The research also indicates that failing to pay enough attention to a home's 'carbon appeal' could make it harder to sell, as over three-quarters of those surveyed (78%) agree that having 'poor' energy rating on their Energy Performance Certificate (EPC) could lead to buyers haggling down the price of a home on the market; furthermore two-thirds (66%) agreed that in light of the current economic climate, home-buyers are more likely to consider the EPC to ensure a home has lower-running costs.
Kevin McCloud, broadcaster and presenter of Grand Designs: "When it comes to what makes a house sell, energy efficiency is becoming as desirable as period features and a nice view."
Philip Sellwood, Chief Executive of the Energy Saving Trust: "It is really encouraging to see the extent to which green measures have become an integral factor when buying and selling houses. In the current economic climate, it makes sense to ensure that the running costs are as low as possible, as well as helping to cut down on your carbon dioxide emissions.
The research forms part of the Energy Saving Trust's 'Hidden Value Guide' which will be launched at the end of August. Other key findings include: -
• 90% of people intending to improve the energy efficiency of their home say they are more likely to invest in products which will help them save money on their fuel bills such as energy saving lighting or energy efficient appliances as a result of the current economic climate.
Christian Harper Oliver Finn
August 29, 2008