‘Energy efficient homes do better’

HOUSEBUYERS are showing a greater interest in homes with high energy efficiency ratings, according to new data.

The Royal Institution of Chartered Surveyors (RICS) says energy efficient homes are outperforming other properties in the current housing market.
The RICS said six out of 10 estate agents say homes with high energy efficiency ratings are holding their value despite the overall market slowdown.
At the same time, 40% said they are seeing more interest from potential buyers in energy efficient homes.
And 41% said sellers are attaching a price premium to their home if it has a high energy efficiency rating.
Mairead Carroll, senior specialist in land and property standards at RICS, said: “It will be fascinating to see how important energy efficiency becomes to buyers over the next 12 months.”
Property firm Zoopla said the survey reflected its findings that buyers are becoming more value-conscious due to higher mortgage rates, inflation and the cost-of-living squeeze.
And the growing appeal of energy efficient homes isn’t just because buyers want to save money on their bills, the firm added.

Banks and building societies are also factoring in energy costs when assessing whether people can afford a mortgage.
“If a lender thinks your budget is too tight to cope with further increases to energy costs, they may only be prepared to lend you a lower amount,” a Zoopla property expert said. “First-time buyers and those on lower incomes are most likely to be impacted.
“On the other hand, if you can show lenders that your home has a high energy efficiency rating – and so it costs less to run and heat – they’re less likely to be concerned about your impact to manage future gas and electricity price rises.”
Properties are given an Energy Performance Certificate (EPC) which rates their energy efficiency on a scale from A to G, pictured above.

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