Housing market shows early signs of recovery in 2024, but interest in green solutions lukewarm – e.surv
The housing market has exhibited surprising resilience in the early months of 2024, driven by pent-up demand, favourable mortgage rates, and improving buyer sentiment, according to data from e.surv’s latest Property Watch report.
However, the re-emerging confidence in the market is not matched by homeowners’ enthusiasm for energy efficiency.
According to e.surv’s latest findings, 74% of surveyors observed limited consumer understanding of the benefits of energy-efficient products and services.
Over half of surveyors viewed cost savings and thermal comfort as the main drivers for adopting green measures in the home, with 30% looking to improve the ‘saleability’ or value of their property.
However, 32% of respondents reported the cost of installation remains a barrier to making improvements to their home.
59% of surveyors also reported increased interest in EV charging points over the last year, reflecting growing take up of electric vehicles in the UK.
Rob Owens, head of research at e.surv said: “Energy efficiency is a key component in the cost-of-living crisis. However, our survey shows that homeowners are unlikely to make the move to greener homes themselves.
“Encouraging energy-efficient homes through policy and incentives is essential to combat rising energy bills and improve the UK’s housing stock.”
He added: “While policy makers are understandably trying to address cost-of-living issues, the long-term of benefits of addressing the energy performance of UK homes should not be lost if we are to meet agreed net zero targets.
“While the UK housing market shows encouraging signs in 2024, affordability remains a key concern for many. Addressing the ongoing rental supply-demand imbalance is crucial to ease pressure on tenants.”