There are many factors to consider when looking at property, but for a growing number of people, energy-efficiency is crucial. When you are energy conscious, you save the world by saving money. Therefore, this is a situation that many people are looking to be in, and new build homes give you confidence in the energy efficiency of the property.
Information taken from Energy Performance Certificate (EPC) data, more than 80% of new build properties are classed as A or B when it comes to energy efficiency. For existing properties, the figure is just 2.2%.
This represents a massive difference, and anyone who holds energy efficiency as a crucial factor when buying property will be instantly drawn to a new build home.
Information provided by the Government indicates new homes use an average of 103kWh/m2 worth of energy, which compared well with existing homes, which are said to use an average of 294kWh/M2 for existing homes.
You can save money each month with more affordable energy bills
While these figures are interesting, they don’t tell people anything tangible. However, these figures translate to the owner of a new build home spending £444 per year on average on utility bills. This sum comprises of £276 on heating bills, £108 on hot water and £60 on lighting.
By contrast, the average utility bills for a homeowner of an established property is £1,072.
The annual saving in these bills for a new build homeowner comes in at £629 a year, or £52 a month. This is a saving that virtual every property owner or tenant will be happy to benefit from.
Fuel costs are set to rise
Property buyers or investors should be aware fuel costs have increased by 36% in the past decade, and there is every indication that fuel bills will continue to rise. Owning a new build home can lower the bills people pay month, and owning a new build property allows the household to help the environment.
Housing costs account for close to 30% of the United Kingdom’s energy use. For a person or household who likes to play their part in managing energy consumption, a new build home is more appealing.
Stewart Baseley is the Executive Chairman of the Home Builder’s Federation (HBF0) and he said: “Today’s new homes are significantly more energy efficient than their predecessors, delivering huge benefits both for their owners and the environment. Owners are saving hundreds of pounds a year in energy bills due to the modern design of their homes and the materials used to construct them. With energy bills expected to increase further, households will continue to reap the financial rewards in the future allowing families to spend more of their money on the things they want instead of simply keeping warm. With house builders’ ongoing investment in innovation, it is clear that the industry is committed to driving yet more savings for homeowners.”
It should be noted the benefits of an energy efficient home aren’t just suitable for prospective buyers, they are of benefit to landlords too. Tenants are looking for the benefits associated with energy efficiency, so as a landlord, you need to consider the demand for homes of this nature.
If you have any questions or queries about the housing market, it is best to call on experts for support. We are still available to help you, while following social distancing guidelines, so feel free to contact us if you need to. We can arrange a free valuation for you, and if is this of interest, please contact Residential London today.
We have a team of qualified professional property consultants specialising in real estate across the capital. We are active in Westminster, The City of London, Kensington & Chelsea, Hammersmith & Fulham, Wandsworth, Lambeth, Islington, Southwark, Tower Hamlets, Greenwich, Newham, Hackney and many more London locations.
You can call us on +44 (0)20 3733 3817 or email us on firstname.lastname@example.org