Going Green - buyers demand more eco features in their next home

News at John Francis | 31/03/2022


Article from Estate Agent Today
https://www.estateagenttoday.co.uk/breaking-news/2022/3/

Going-green--buyers-demand-more-eco-features-in-their-next-home Buyers are focusing increasingly on green fixtures and fittings according to a new study. Insurance firm Aviva says the most in-demand features listed by people considering buying a new home are renewable energy sources (27 per cent), heat pumps (17 per cent) and electrical vehicle charging points (22 per cent). Around two fifths of residents say they would consider the energy efficiency of their next home, in contrast to just 22 per cent who thought about this with their last property purchase. Similarly, two fifths of house-buyers would take into account roof insulation and wall insulation when buying a new home, whereas - in both cases - just a quarter did the same when buying their last property. The shift towards electrical vehicles on UK roads means that almost a quarter of residents would be looking for an EV charging point when buying their next home. A similar story is true with regard to heat pumps, which were a consideration for just six per cent of home-buyers when purchasing their previous property. Government plans to reduce the UK’s reliance on fossil fuels appear to be having an impact. Now approaching a fifth of home-seekers say they would look for a property with a heat pump. However, while there is a general acceptance of the need to be greener, a significant number of UK residents have reservations about modifying their existing homes. When asked what - if anything - would prevent them from making sustainable or environmentally-friendly changes to their homes, almost half of respondents believe the changes would be too expensive. Others say they wouldn’t know how to install them (18 per cent), that changes would cause too much disruption (15 per cent) and that they might look unsightly (10 per cent). Alongside the desire to make changes to existing homes, the study also examines people’s propensity to choose an ‘eco-home’ for their next house purchase. Overall, two thirds of homebuyers say they would consider buying an eco-property or sustainably-built home, with almost a quarter of this cohort saying it would actually be a priority for them. Amongst those who aren’t sure about buying an eco-home, or who wouldn’t consider such a property, there are a number of concerns raised. Almost a third believe that this type of house would be more expensive than other homes, others say they prefer the look of more traditional homes, while more than a fifth are unconvinced they are actually “greener” than other types of housing. A similar number are sceptical that sustainable properties are built to last and one in eight worry they might struggle to get a mortgage for an eco-home. An Aviva spokesperson says: “UK residents are increasingly conscious of the need for homes which are built for the future and resistant and resilient to increasingly extreme weather events. “The fact that people are actively seeking properties built with the environment in mind is encouraging, as is the news that residents are bringing green initiatives into the fixtures and fabric of their existing homes. “While many people still have some reservations about eco-housing, there is a clear shift towards greener communities, which we hope will play through as more homes are built.”