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House prices receive boost due to energy efficiency measures

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House showing the energy efficiency measures

House showing the energy efficiency measures

Energy saving improvements to your property could increase the value by 14% on average according to research by the Department of Energy and Climate Change (Decc).

Over 300,000 property sales in England were taken into account in the survey between 1995 and 2011 which showed that “energy efficiency is now a key factor influencing the sale price of most residential dwellings in England”.

For an average home in the country, increasing it’s EPC (Energy Performance Certificate) by 2 bands could mean adding more than £16,000 to the price of the property.

In the North East, improved energy efficiency from band G to E could increase the value by £25,000 and in the North West by £23,000.

Greg Barker, energy and climate change minister, said: “Not only can energy efficient improvements help protect you against rising energy prices, but they can also add real value to your property. This coalition is committed to helping hardworking families with the cost of living. The Green Deal is designed to do exactly that.

“The Green Deal is helping more people make these types of home improvements, reducing high upfront costs and letting people pay for some of the cost through the savings on their bills. The Green Deal is a great option for anyone wanting to improve the look, feel and potentially the value of their home.”

Broadcaster and co-founder of the Grand Designs Future Living home retrofit company, Kevin Mcloud said “There are some 26 million homes in Britain, most of them about as well insulated as a rabbit hutch, and they need immediate help to be made less wasteful.

“The Green Deal is now maturing into a helpful way of financing a lot of the retrofit solutions around. Homeowners can now start to make these changes, alleviate the burden of high energy bills and improve the value of their prime asset.”

Almost half of properties in England are band D, but compared to this, a typical home in the West Midlands in band B is on average nearly £17,000 more in value. In the North East this could be over £19,000 which is £3,000 more than the national average.

 

 

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