Energy efficiency is most important for someone who opts to buy a new build as a preferred home
Nearly nine in 10 (88%) prospective homebuyers recognise the importance of energy efficiency in selecting a new home, new data from research specialists Bloomberg Intelligence has shown.
According to the report, surging energy prices have made energy efficiency in homes important to a huge majority of respondents, with 45% stating it was “very important.” This figure is even higher in the capital, with 49% of Londoners more likely to say energy efficiency is very important.
Buyers who regard energy efficiency as most important (20.5%) were more likely to buy a newly built home, compared to those who do not (17.5%).
The research also found that prospective homebuyers are prioritizing well-known and easy-to-grasp energy-saving features in their next home rather than heat pumps, which have been much-touted by the UK government but are lacking in popularity.
Bloomberg Intelligence said very few buyers (7%) would opt for a smaller house to help lower upkeep costs, which is well-aligned with other survey results, pointing to most buyers being needs-driven, motivated by a desire for more space, both indoor and outside.
“First-time buyers, especially in London, are far more likely than average to say that energy efficiency was very important to them in our survey, with energy efficiency key for 90% of all buyers,” Iwona Hovenko (pictured), real estate analyst at Bloomberg Intelligence said. “However, their selection of the key energy-efficient features, while aligned with most respondents, puts less emphasis on insulation and efficient boilers, flagging a potential lack of knowledge.
“This raises the appeal of new dwellings built by Barratt, Persimmon, Taylor Wimpey, Bellway, and Berkeley as energy bills can be as much as £2,000 lower. Notably, simple energy-saving features are favoured by buyers over more complicated heat pumps.”
