Energy Efficiency Rip-Off: ‘Improvements’ boost UK house prices 14-38%
Energy saving improvements to your property could increase its value
by 14 per cent on average and up to 38 per cent in some parts of England
according to new research from the Department of Energy and Climate
Change (Decc).
The report, which took into account over 300,000 property sales in
England between 1995 and 2011, flags 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, improving its EPC
(Energy Performance Certificate) from band G to E, or from band D to B,
could mean adding more than £16,000 to the sale price of the property.
In
the North East, improved energy efficiency from band G to E could
increase this value by over £25,000 and the average home in the North
West could see £23,000 added to its value.
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."
Kevin
McCloud, broadcaster and co-founder of the Grand Designs Future Living
home retrofit company, 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."
Nearly half (46 per cent) of properties
in England are currently band D - but compared to this, a typical home
in the West Midlands in band B is estimated to be valued at nearly
£17,000 more. In the North East this could be over £19,000, £3,000 more
than the national average.
by 14 per cent on average and up to 38 per cent in some parts of England
according to new research from the Department of Energy and Climate
Change (Decc).
The report, which took into account over 300,000 property sales in
England between 1995 and 2011, flags 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, improving its EPC
(Energy Performance Certificate) from band G to E, or from band D to B,
could mean adding more than £16,000 to the sale price of the property.
In
the North East, improved energy efficiency from band G to E could
increase this value by over £25,000 and the average home in the North
West could see £23,000 added to its value.
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."
Kevin
McCloud, broadcaster and co-founder of the Grand Designs Future Living
home retrofit company, 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."
Nearly half (46 per cent) of properties
in England are currently band D - but compared to this, a typical home
in the West Midlands in band B is estimated to be valued at nearly
£17,000 more. In the North East this could be over £19,000, £3,000 more
than the national average.
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