Wednesday, August 12, 2020
UK

Majority of Brits prefer environmentally sustainable performance of a new home

As many as 78% of Brits consider the environmentally sustainable performance of a building important when choosing a new home

New research by BLP Insurance, has shown that as many as 78% of people consider the environmentally sustainable performance of a building important when choosing a new home.

According to the findings, 81% of respondents in London think the long term environmental and sustainable performance of a new home is important versus Sheffield (68%) and Newcastle (75%).

When asked about environmentally sustainable features, almost a quarter of participants ranked energy efficient heating and hot water systems as their top priority if they were choosing a new home, followed by double glazing, and solar panels. Environmentally friendly fittings were seen as the main advantage of buying a new build home over an older property.

The research also highlights the slow uptake of smart meters with only 5% of respondents viewing this feature as important. The popularity of the technology varied among different generations, with 10% of 16-24 year olds versus 2% of over 55s citing smart meters as a significant addition to their new home.

New Minimum Energy Efficiency Standards (MEES) introduced in April this year and coming into force in April 2019 have drawn even more attention to the energy efficiency of properties, and landlords could face penalties if they fail to achieve an Energy Performance Certificate (EPC) rating of at least an E.

CEO of BLP Insurance, Kim Vernau said that as people become increasingly concerned about environmental issues, demand for environmentally sustainable features for new homes will continue to grow. Initiatives such as the Energy Efficient Mortgages Action Plan (EeMAP) will help finance an increase in sustainable homes by incentivising building owners to improve the energy efficiency of their properties or acquire already efficient buildings.

It’s not just buyers but prospective tenants that are more alert to sustainability. With more detailed and transparent data now available to consumers at all levels, and new energy standards being implemented, landlords and developers will need to adapt, taking steps to improve the efficiency of properties in the market.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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