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Home owners willing to pay £16,000 more for energy efficient properties

Rebecca Goodman
Written By:
Rebecca Goodman

Potential home owners are happy to pay an average of £16,130 more for a property that is energy efficient, a new report claims.

Double or triple glazing, good insulation, and a big garden are all top features home buyers are now looking for when viewing potential properties.

These features are being put above those which have been traditionally popular including period properties with tall ceilings and ornate fireplaces.

House hunters are willing to pay extra for these features too, an average of £2,089 for newly-fitted double or triple-glazed windows or doors and £2,038 for a house with a renewable energy source.

The most popular features for home buyers

Insulation, double or triple glazing, and renewable energy sources are all featured in the list of the 10 most common things home owners are currently looking for, as compiled by property management firm FirstPort.

  1. Double or triple glazing (70%)
  2. Good insulation (61%)
  3. Good-sized rooms (53%)
  4. A big garden (50%)
  5. An economical central heating system (46%)
  6. A private driveway, or dedicated parking (38%)
  7. Renewable energy system (e.g. solar panels, heat pump) (37%)
  8. En-suite bathroom (36%)
  9. Large windows / good daylight (34%)
  10. A good energy efficiency rating (34%)

In comparison, at the bottom of the list, were sash windows (3%), ornate fireplaces (13%) and tall ceilings (15%).

House hunters paying more than £16,000 for greener properties

The inclusion of energy efficient features is most likely related to soaring energy costs that have seen millions struggling with the cost of gas and electricity over the last year.

Yet the survey of 2,000 people also showed that despite the rising cost of living, people are willing to pay more for these features and 96% of those asked said the cost-of-living crisis had not changed what they would look for in a new home.

On average those asked said they would pay the following average figures for green features:

  • Energy efficient lighting: £894
  • Renewable energy source: £2,038
  • Smart heating: £1,236
  • Well insulated walls: £1,633
  • A good Energy Performance Certificate (EPC) rating: £1,429
  • Access to an electric vehicle (EV) charging point: £1,053
  • A newly fitted boiler: £1,736
  • Newly fitted double or triple glazed windows or doors: £2,089

Mortgage lenders have also cottoned on to the need for greener homes with the launch of green mortgages, yet many experts have slammed green mortgages as unrewarding, with interest rates which match, or are higher than standard products and cashbacks which have been branded “pointless”.

Christian Phipps, sustainability manager at FirstPort said: “This research shows just how important sustainable living is and will continue to be going forward. Especially with the increased cost of energy, the interest we’ve had from customers for energy efficient additions, such as solar panels, has skyrocketed.”