Energy ratings ‘deciding factor’ for homebuyers

A new survey has revealed that 80% of UK citizens are willing to pay more for houses with energy saving features.

The poll, conducted by ICM research, also found that one in ten Brits would walk away from a dream home if it had a low energy saving rating.

People selling their homes are now legally required to provide a Home Information Pack (HIP), which includes the property’s energy rating.

Over half of those surveyed said that poor energy efficiency features such as an old boiler, single glazed windows, or insufficient insulation would put them off buying a house.

Just 10% would be put off by distasteful décor, whilst an overgrown garden would put off 4%.

Despite this, only 25% of home owners consider improving the energy efficiency of their home before putting it up for sale. This is compared to 71% who focus on quick-fixes such as a de-clutter or a paint job.

DIY chain B&Q estimates that just £500 spent on energy saving features is likely to add up to £3,000 to the value of a property. Simple low-cost measures that can be carried include installing energy efficient light bulbs, and insulating the loft.

Paul Smith from Haart Estate Agents says that these results are reflected in house sales. Whereas prior to HIPs the strongest selling points were neutral décor and stylish kitchens, more and more buyers are “taking energy saving features into account.”

He added that in many cases, energy saving features have become a “deciding factor” as to whether an offer is made on a property.