At least 18 million homes have an Energy Performance Certificate (EPC) rating of D or below, analysis from Rightmove has revealed.
According the report, this figure equated to more than half (55%) of all UK housing stock.
Analysis of Government data showed that the average energy bill of a three-bedroom house with an EPC rating of F was £4,431 per year, compared with £1,669 for the same sized house with an EPC rating of C – a difference of £2,762.
The Rightmove study also found that the biggest motivator to make green changes to a home was to reduce energy bills.
According to the findings, 87% of renters and 83% of homeowners believed more action should be taken to help people make their homes greener.
Rightmove urged whichever party wins the upcoming General Election to prioritise making green home incentives available to as many homes as possible, as soon as possible, to help the millions of homes that need to be improved.
Tim Bannister, Rightmove’s property expert, said: “While it’s a start to see some green support proposed in the party manifestos, there’s a big job to be done to address the widescale issue that at least 18 million UK homes need to be improved.
“Many home-owners and landlords need urgent access to schemes that enable them to make these improvements, which could help with huge savings on energy bills.
“Each home requires different improvements and the upfront costs are a huge barrier to change.
“Without more help, many home-owners and tenants will continue to live in high-carbon emitting homes with high energy costs.”
Nathan Emerson, CEO of Propertymark, added: “Propertymark have long supported initiatives and practical measures to help enhance energy efficiency across the UK.
“We would be keen to see any incoming government construct a wide-ranging package of support to assist with upgrades at the first opportunity.
“It’s vital there is a diverse approach of funding, grants, and targeted schemes based on age, condition, and size and that there is robust infrastructure in place to deliver on such ambitions.”
