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”, according to new research carried out by the Energy Saving Trust.

The research results were followed by the release of a practical guide* to aid householders take effective decisions in upgrading energy performance in existing homes, incorporating findings of the survey.

The EST guide raises awareness of the value and purpose of EPCs, provides a practical overview of key measures, typical costs involved, recommended products, and sources of further information. It points out that the average house adopting higher insulation standards and energy-saving practices could attract a premium of up to £15,000, and save £2,300 over ten years.

The research suggests, contrary to recent concerns the Credit Crunch could harm aspirations to achieve higher sustainability levels, 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 survey found that “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”.

It also found that “69% of people agree that homeowners should put money into improving the energy efficiency of their home now that it is harder to move in the current economic climate”, and that 26% “have plans to improve the energy efficiency of their property in the next 12 months”.

However, the survey found that support for green features among homeowners does not appear to be so enthusiastically shared by estate agents, so that they “could be under-selling the value of greener homes through a lack of information”. While householders are willing to pay an average of £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% feel that estate agents don’t know enough about energy efficiency performance”.

This is despite the fact that 66% of householders would like more guidance from them on the probable running costs for homes, and that lack of attention to ‘carbon appeal’ could make sales harder, with over three quarters of respondents seeing poor EPC ratings as likely grounds for haggling on price by buyers, particularly in the current economic climate.

Launching the survey, EST ceo Philip Sellwood said “it is really encouraging to see the extent to which green measures have become an integral factor when buying and selling houses,” with as many as 68% not wanting a highly energy inefficient F or G-rated home. 

National Association of Estate Agents ceo Peter Bolton King was more sanguine: “Whilst there is always room for improvement, our members do take the Energy Performance Certificate very seriously and will flag it up to both vendors and purchasers including it as part of the property particulars and with many of them going further and including it on their websites.” He added that “we have long appreciated that a new boiler and modern efficient central heating will be a selling point in any home”. 

However, he cautioned that “whilst green features are demonstrably important in selling a property – and with rising gas prices they are undoubtedly becoming more important – these are only some of features that people consider in their list when choosing a home”, alongside location, price, “new bathrooms and kitchens and the general lay-out and décor of the home”.
*Hidden value guide – unlock the value in your home, EST, August 2008

u www.energysavingtrust.org.uk/uploads/documents/aboutest/HVG.pdf