Housing Market News And Views Green Homes Sell Quicker

Date Published:

01/09/2008

Carbon appeal - over kerb appeal - is the new must-have to sway buyers in your home's direction, according to new research from the Energy Saving Trust. So, should you be making your home eco-friendly, just ensure a future sale?

By Lucy Searle

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Fact: Buyers Will Pay More For A Green Home

The Energy Saving Trust's research is surprising. It shows that 53 per cent of buyers are willing to pay extra (on average £3,350 more) for a green home, however, estate agents lack the 'green knowledge' to harness this, despite the fact that two thirds of us would like more guidance from them on the likely running costs of a home.

This, according to the research, also indicates that failing to pay enough attention to a home’s 'carbon appeal' could make it harder to sell, as over three-quarters of those surveyed agree that having a ‘poor’ energy rating on their Energy Performance Certificate (EPC) could lead to buyers haggling down the price of a home on the market. What's more, two-thirds agreed that in light of the current economic climate, home buyers are more likely to consider the EPC to ensure a home has lower running costs.

Kevin McCloud's View

Asked about this, Kevin McCloud says, 'I'm building 180 super energy-efficient homes over the next few years, but what about Britain's existing housing stock? Well, we can all box-clever and be efficient in how we generate heat, keep it in the building and consume power, and add value to our homes in the process. When it comes to what makes a house sell, energy efficiency is becoming as desirable as period features and a nice view.'

The Estate Agent's View

Peter Bolton King, Chief Executive, National Association of Estate Agents, says, 'Whilst there is always room for improvement, our members do take the Energy Performance Certificate very seriously and will flag it up to both vendors and purchasers including it as part of the property particulars and with many of them going further and including it on their websites. In addition, we have long appreciated that a new boiler and modern efficient central heating will be a selling point in any home. However, whilst green features are demonstrably important in selling a property - and with rising gas prices they are undoubtedly becoming more important – these are only some of features that people consider in their list when choosing a home. Location and price, will always play a part as will new bathrooms and kitchens and the general lay-out and décor of the home.'

What Action Should Homeowners Take?

So, what should the average homeowner trying or planning to sell do? My advice is as much as you can, within reason. An old house is never going to be terribly energy efficient, and most buyers lusting after a period property will know that. However, if, as part of a range of improvements you are doing on your home, you can move green projects higher up on your list of 'to dos', all the better. Then, when buyers come to view, ensure you push your home's green points, just as you would push its generous room sizes and good views.

More Findings

What else does the research, which forms part of the Energy Saving Trust’s new 'Hidden Value Guide', show? Other key findings include:

• 90 per cent of people intending to improve the energy efficiency of their home say they are more likely to invest in products which will help them save money on their fuel bills such as energy saving lighting or energy efficient appliances as a result of the current economic climate.

• 69 per cent of people agree that homeowners should put money into improving the energy efficiency of their home now that it is harder to move in the current economic climate.

• More than a quarter of people have plans to improve the energy efficiency of their property in the next 12 months.

Philip Sellwood, Chief Executive of the Energy Saving Trust comments, 'Ensuring that a home is as energy efficient as possible is a great way to help make sure that you keep bills down over the longer term. For more information on how to Act on CO2 and boost your home’s "carbon appeal" speak to a local Energy Saving Trust advisor on 0800 512 012.'

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