Surging energy prices have made energy efficiency in homes important or very important for 90% of prospective homebuyers, according to research from Bloomberg Intelligence.
These findings come as both the energy and cost-of-living crises continue to put households under financial pressure this winter, with 44.9% of respondents stating energy efficiency was ‘very important’.
The picture was similar in the capital, however with Londoners more likely to say energy efficiency is very important (49%).
Iwona Hovenko, real estate analyst at Bloomberg Intelligence, said: “First-time buyers, especially in London are far more likely than average to say that energy efficiency was very important to them in our survey, with energy efficiency key for 90 % of all buyers.
However, research found that first time buyers’ selection of the key energy-efficient features, while aligned with most respondents, puts less emphasis on insulation and efficient boilers, flagging a potential lack of knowledge.
Prospective homebuyers are prioritizing well-known and easy-to-grasp energy-saving features in their next home, BI’s survey suggests, rather than heat pumps which have been much-touted by the UK Government.
This is even as it may be hard for buyers to gauge the quality of insulation (mentioned as key by 55.2% of participants) or boiler efficiency (39.9%).
A high EPC rating is far down the popularity list (22.6%, only seventh), possibly highlighting a lack of familiarity, even as survey participants favour many of the components that contribute to EPC.
Very few buyers (7.2%) would opt for a smaller house to help lower upkeep costs, which is well-aligned with other survey results, pointing to most buyers being needs-driven, motivated by a desire for more space, both indoor and outside.
Hovenko added: “Notably, simple energy-saving features are favoured by buyers over more complicated heat pumps.
“This raises the appeal of new dwellings built by Barratt, Persimmon, Taylor Wimpey, Bellway and Berkeley as energy bills can be as much as £2,000 lower.”
