Will the 2022 energy crisis change home buying habits?
As we navigate what is expected to be our toughest winter to date with rising energy costs, many are finding ways to reduce their bills.
would you change your home for better energy efficiency?
In the UK, we are blessed with beautiful period properties showing off the history of British architecture, but are their lower energy ratings making them less appealing this year?
Whilst 42% of homes are rated EPC C or higher, it is expected that there will be a decline in older property purchases this year as people consider the rising costs.
According to the Energy and Climate intelligence unit, “the cost of gas for homes with worse insulation, rated EPC band F, will be on average £1,000 a year more than homes at the Government’s target of EPC band C.”
Could this shocking number see a shift towards new build home purchases this winter?
Building innovations and technological advancements mean that new build homes are becoming more energy efficient than ever, resulting in running costs more than 50% cheaper than older properties.
Greater efficiency means less energy spend.
According to data from the Home Builders Federation (HBF), on average, new build purchases save an annual £395 on heating bills, £28 on hot water and £12 on lighting. In total, the yearly household bill for owners of older properties was £890, almost twice as much as the annual bill for a new build which was £455.
How do you know if a property is energy efficient?
All properties are legally required to have their energy efficiency assessed before being put on the market. This is presented on an Energy Performance Certificate, which can be accessed through the listing estate agent.
The basic Energy Efficiency Rating (graded A - most efficient to G - least efficient), from the EPC rating is available on Rightmove.
DID YOU KNOW…..
You can download detailed information about A PROPERTY’S ENERGY EFFICIENCY online using the online .GOV portal.
By entering just the post code and property number, you can download the most recent EPC certificate as well as view any considerations and improvements that have been recommended to boost efficiency.
A great tool if you have found the home you love, and want understand its energy efficiency and any cost to bring it up to the government’s recommended efficiency rate.
At Little Barn Door we are ready to support you with advice and guidance throughout your property journey, so why not get social with us for the latest hints and tips for staging and selling your home.