51% of FTBs say rising energy bills make new build homes more appealing, research finds
64% of FTBs in the UK, and 73% in London, believed it was important to live in a home with an EPC rating of C or above, according to Fairview New Homes.
51% of first-time buyers (FTBs) said rising energy bills would make them more likely to buy a new build home, research from Fairview New Homes found.
64% of FTBs in the UK, and 73% in London, believed it was important to live in a home with an energy performance certificate (EPC) rating of C or above.
61% said they would be more likely to buy a new build because they tend to be more energy efficient than older homes.
Michael Whittall, sustainability manager at Fairview New Homes, said: “Today’s price cap increase announcement from Ofgem is another reminder that energy bills remain a significant financial consideration for households across the UK.
“Against this backdrop, it’s understandable that first-time buyers are looking more closely at a property’s energy efficiency and the long-term savings it can offer.
“New-build homes are required to meet modern energy efficiency standards and often include features such as high-performance insulation, efficient heating systems and passive cooling design.”
Whittall added: “Together, these can help homeowners reduce their energy demand and better manage their monthly bills.
“For many first-time buyers, that added assurance over ongoing living costs is an increasingly important part of the decision-making process, which is reflected in our research showing that 61% also said the fact new builds tend to be more energy efficient than older properties would make them more likely to buy new.”
Data from the Home Builders Federation and Octopus Energy showed buyers of new builds could save an average of £421 a year on energy bills compared to buyers of older homes.
New builds cost around £1,574 a year to run, while older homes cost £1,995, a 21% difference in running costs.
To support FTBs, Fairview New Homes is launching an incentive covering up to £35,000 in energy bills on selected homes.
Chris Hood, sales and marketing director at Fairview New Homes, said: “Buying a home is one of the biggest financial decisions people make, so we’re always looking for ways to give our buyers greater confidence and long-term financial reassurance.
“Fairview delivers Net Zero Ready, 100% gas-free homes with strong energy performance and low embodied carbon levels, close to GLA aspirational benchmarks.
“Our homes feature brand new, energy-efficient kitchen appliances, air source heat pumps, solar panels and EV charging points.”
Hood added: “It’s unsurprising that Londoners are even more conscious of energy efficiency in their homes where cost of living is generally higher across the board.”
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