New analysis from Rightmove, the UK’s largest property website, reveals that over 18 million homes in the UK require green upgrades to improve their energy efficiency. This figure represents more than half (55%) of all UK housing stock, with these homes having an Energy Performance Certificate (EPC) rating of D or below.
The cost of energy bills varies significantly based on a home’s EPC rating. For instance, a three-bedroom house with an EPC rating of F has an average annual energy bill of £4,431, compared to £1,669 for the same sized house with an EPC rating of C. This demonstrates a potential saving of £2,762 per year with improved energy efficiency.
Motivations and Support for Green Improvements
A recent Rightmove study, involving over 14,000 participants, highlights that the primary motivator for homeowners and renters to make green changes is the potential reduction in energy bills. The study found that 87% of renters and 83% of homeowners support more actions to facilitate green home improvements.
Call to Action for Government Support
Rightmove is urging the government to prioritize making green home incentives widely available. This would help the millions of homes in need of upgrades to achieve better energy efficiency, resulting in lower energy bills and reduced carbon emissions.
Tim Bannister, Rightmove’s property expert, emphasizes the importance of government intervention: “While it’s a start to see some green support proposed in the party manifestos, there’s a big job to be done to address the widescale issue that at least 18 million UK homes need to be improved. Many homeowners and landlords need urgent access to schemes that enable them to make these improvements, which could help with huge savings on energy bills. Each home requires different improvements and the upfront costs are a huge barrier to change. Without more help, many homeowners and tenants will continue to live in high-carbon emitting homes with high energy costs.
The analysis underscores the urgent need for green home upgrades across the UK to not only reduce energy bills but also to contribute to environmental sustainability. The next government is called upon to take immediate action to support these necessary improvements. To see the full report click here
Why buying new from Rowland makes so much sense!
The findings from the recent Rightmove analysis, make a move to a newly built property highly attractive, for a host of reasons including the superior energy efficiency of a new home.
