Buyers Look to ‘Greener Homes’ to Help Cut Energy Bills

Posted by Knight Frank Newcastle on 2nd February 2023 -

Key survey findings

• 76% of respondents rate a domestic electric vehicle charging point as more or equally important as it was a year ago.
• 35% rate rising energy costs as the biggest influence when buying an energy-efficient home
• Just 17% of homeowners plan to install a heat pump

Mitigating the impact of soaring energy bills is the main reason buyers would purchase an energy-efficient home, trumping both environmental and regulatory concerns, according to our latest sentiment survey.

Although the government’s ‘Energy Price Guarantee’ has placed a cap on the scale of recent energy price rises, average winter bills are still estimated to have almost doubled since last winter.

Alongside the rising cost of borrowing, it means the energy performance of a home is now central to buyers’ decision-making.

Asked which factor was most likely to influence their decision to buy a more energy efficient home, 35% said rising energy costs (see chart).

“While environmental concerns are a consideration for many home buyers, it is the record-breaking cost of energy that is dominating most buyers’ thinking at present,” said Chris Druce, senior research analyst at Knight Frank.

Continue to read on Knight Frank website 

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