7 IN 10 NEW HOMEBUYERS NOW PRIORITISE ENERGY EFFICIENCY
16th June 2022
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7 in 10 people who recently purchased or are looking to purchase a new build home claim energy efficiency is a high priority in their decision
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Energy efficiency important to 4 in 10 buyers in the resale market
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New build houses save up to half (52%) on energy bills compared to a similarly sized resale house
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Buyers unaware the extent of energy savings new builds offer with 60% underestimating the savings to be had compared to an average resale house
16th June 2022: A new consumer survey from Zoopla reveals energy efficiency now plays a high priority for those who bought or intended to buy a new-build property with nearly 70% of respondents citing it as an important factor in their purchase.
The survey of 2,600 consumers comes as day-to-day costs of living continue to rise and consumers are increasingly looking for ways to reduce their energy cost and have an increasing desire to make greener decisions.
New build energy efficiency a growing attraction for buyers
The introduction of new government regulations has seen an increase in the energy efficiency requirements of new homes. The Future Homes and Buildings Standard ensures that new homes built from 2025 will produce 75-80% less carbon emissions than those delivered under current regulations meaning massive energy savings for consumers.
More than two-thirds (69%) of households that bought or were looking to buy a new build property reported the government energy performance certificate (EPC) rating was either an ‘extremely important’ or a 'very important' factor in their decision.
New home buyers are not just seeking new developments for lower running costs, they are increasingly conscious of housebuilders’ green credentials with 74% claiming it was important their home be built with minimal environmental impact.
Energy ratings not as important yet in the resale market
When it comes to older homes, green credentials are less important with just 4 in 10 (41%) resale purchasers considering them an important factor in the buying decision. The energy efficiency of new build homes is clearly being recognised by new home buyers and is a key point of differentiation for builders.
Buyers underestimate the energy savings to be made
While more than two-thirds (69%) of respondents thought that new homes were more efficient than resale properties, they typically underestimated the potential cost savings of moving to a comparable high-rated EPC home.
Analysis by Zoopla of EPC data shows the running costs of a new-build can be up to 52%* less when compared to similar resale properties. For example, the average carbon output of a new home also comes in at just under a third of that attributed to a resale home (1.4 tonnes vs 3.8 tonnes per year).
Those who thought new houses were more efficient than resale houses were asked to estimate the annual percentage saving on energy bills relative to a resale house. 6 in 10 (62%) respondents underestimated the correct figure with a third assuming that a new home offered annual savings of 20% or less compared to an average resale house.
Richard Donnell, Research Director at Zoopla says, “Rising energy costs and greater awareness of climate change are starting to have greater influence on consumer home buying decisions. The energy efficiency of new homes and the lower running costs is a recognised attraction for would-be buyers compared to those looking for a home in the resale market.
Energy efficiency remains important for 2 in 5 buyers in the resale market and we expect this to increase further as the Government continues to roll out further policies aimed at decarbonising the housing market and reducing greenhouse gas emissions from UK’s homes.
While the new homes market and the private rented sector are the big focus areas for policymakers at present, rising energy costs will only serve to increase the importance of energy efficiency and running costs of homes as part of home moving decisions.”
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