A finance company claims that just having solar panels can boost a property value by 25 per cent over similar nearby homes without the features.
Admiral Money adds that insulation and heat pumps are adding 22 and 10 per cent on average, respectively.
A survey of 2,000 people conducted by the firm says 76 per cent are influenced by energy saving features when purchasing a property, with people saying they’d pay 24 per cent more for homes with an EPC rating of C or higher.
Some 67 per cent now say would want to see the EPC rating prior to purchasing a property and 35 per cent say they would be deterred from purchasing an older property due to concerns around energy efficiency.
The research on property values was conducted using real property listings data.
The chief executive of Admiral Money in the UK, Scott Cargill, says: “Forget curb appeal – for those of us who are homeowners or buyers, it’s all about the green appeal.
“It’s encouraging to see that more and more of us are becoming eco-conscious when buying our homes – not least driven by environmental and energy-saving pressures. This demand is clearly having an impact on property values.”
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25% more? Total nonsense.
Agreed
I don’t agree at all, they didn’t say what type of buyer. Is it a well established Landlord or a struggling LL, someone with pots of money. A well healed individual on big Salary or someone who hasn’t bought before.
There are lots of factors I would be looking at before if I was buying my first home.
The size and proximity of the property, can I have outside space, does it have parking, does it have future potential. Why would I pay 24% more for a “C” rated cramped Flat, leasehold with high Service Charges when possible I could have a 1930 Terrace cavity walled house with garden front & back, FREEHOLD no Service Charge, probably with a garage.
No contest there are lots of factors, do you want to live in an over priced high rise Flat with 2 sq meters of Balcony recreational space or the house they are trying to phase out with 100 sq m of garden, anyone surveys you’d like a comment on.
Location, location, location.
I'm very keen on solar panels but they're nowhere near as high on my list as location, parking and decent room sizes.
It would depend on what level of Feed in Tariff solar panels were on as to how much extra I may be willing to pay.
Agree, solar panels would be nice but I wouldn't pay much extra for them. Other factors would be more important. You can always add solar panels later if you want. I'm sure there are not many properties where the cost of solar panels won't be as much as 25% of the property.
I think the only house buyers who care about EPCs are LLs and that is only because of proposed legislation!
Exactly Tricia, this piece has started my day off with a smile 😃.
I'm 84.6% more likely to believe stats when they're given in context. If the value of a specific amount of solar panels is somewhere near 25% of a property's value, I'd pay 25% more for that property. No surprise there. And people pay '24% more' for EP.C C properties? Maybe when comparing with a carboard hut.
I have a property for sale. I want the contact details of the people surveyed so they can overpay for my house. I don't mind an extra 25% thank you very much.
Nick - 😂 just fit a couple of cheap solar panels, on your brand new “leased “ roof, with the worst feed in tariff known to man 🤔 add in no battery storage, then let’s see the 25% increase 🤠🤠… Details, it’s all about the small stuff 😃
The first thing residential and commercial tenants ask me is whats the epc , it's such a vital piece of information !!
Who cares about location , a nice garden , kitchen , view , lease terms etc ?
/s
In other news, Rear Admiral Money claims that having weeds in your gutters will make your house greener and boost its value by 30%.
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