75% of sellers considering efficiency changes to boost home values

New research has found 75% of Brits who are likely to sell their property within the next year would consider energy saving upgrades.

The new figures, obtained from Snugg, have discovered that with house prices continuing to fall as the rates of inflation are coming down, potential sellers are looking to install energy efficient measures to boost their value.

However, whilst people are looking to make their homes cheaper to run in the long run and more sustainable, there is confusion around what is available in terms of upgrades.

According to research, 61% of likely sellers have analysed government grants from home heating improvements but were confused about their eligibility, and 57% say they just don’t know how to make their home more energy efficient.

In addition, just over two-thirds assume they are not eligible for government grants, with 69% falsely believing grants for home heating improvements are only available for people with low incomes.

Against this backdrop, 68% of people said they would never make energy improvements to their home without a government grant and believe that the government should cover the cost of replacing gas boilers with heat pumps.

‘Sellers’ lack of access to available information on home energy efficiency changes risks slowing an already spluttering property marker – with home energy efficiency improvements known to increase value by up to £15,000,’ said Robin Peters, CEO of Snugg. ‘At the same time, homes in the UK rank amongst the worst in Europe for energy efficiency – responsible for more than a fifth of the UK’s CO2 emissions.’

He added: ‘It’s little wonder people are confused when current grant schemes are uncoordinated and the government’s ever-shifting position on net zero provides little certainty or clarity to homeowners. It’s vital that we ensure everyone has access to the knowledge needed for simple and affordable home changes that can both help boost the property market and accelerate our transition to net zero.’

News of people wanting to make their homes more energy efficient before selling them is welcomed. Although the government seemed to have dropped the ball on helping to reduce CO2 emissions in the UK, it’s reassuring to learn the general population are still prioritising it. 

Image: Zbynek Burival

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