Following the conclusion of COP26, research by HomeViews has found nearly 70per cent of new-build owners or renters value sustainable building features.
It is one of the first times that peoples values have significantly changed, as the world highlights the true impact of climate change and what we need to do to save the future of our planet.
Energy Saving in the home isn’t something new. Energy Performance Certificates for homes were first introduced back in 2008. Many of us have smart meters installed and energy-saving lightbulbs are very common now. In 2013, the University of Cambridge released a research paper on what building for the future really means. It is an interesting read, especially when you discover that at least 40 per cent of the UK’s homes were built before 1944 and that the UK has one of the oldest and least efficient domestic stocks in Europe, accounting for around 25 per cent of its carbon emissions.
In December 2006, the government proposed that by 2016 all new homes will have to achieve a zero-carbon status. The article states – “Buildings of the future should be low-energy, sustainable and able to respond to future changes – climatic, technological, social or regulatory – in other words, be ‘future-proofed.” We are now 2021 and we are still talking about how to achieve this.
Research by HomeViews is now showing that buyers and renters are starting to value more sustainable features that can help them save energy (and in turn lower their bills) They also want to see more recycling services. At Meller Braggins, we are starting to ask about apartments where an electric car can be charged (sadly these are still a rarity across Cheshire) and people are starting to pay attention to the EPC rating of a property.
Homes with higher EPC ratings tend to both sell and rent for more. There is often a direct relation to the overall condition of the home (think better quality windows, newer boilers, new or well-insulated roof). What is also interesting is that the government is working with the banks to develop green finance products targeted at those people getting mortgages. Basically, the better the EPC, a more preferential mortgage rate will be offered.
Is the UK finally waking up to climate change? Will our future homes become carbon zero? The great thing is that both homeowners and renters are starting to pay attention.
If you’d like to keep up to date with all the latest property news and thoughts, or are wanting more information on the current condition of the Cheshire property market, Richard and Simon would be more than happy to help.