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Energy efficiency, insulation and double glazing key criteria for buyers

  • 16/12/2022
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Energy efficiency, insulation and double glazing key criteria for buyers
Prospective homebuyers key criteria for choosing properties are energy efficiency, insulation and double or triple glazing as energy prices have dramatically risen.

According to Leeds Building Society, which surveyed 2,454 people who are planning to buy in the next five years, around 31 per cent said good insulation was a key feature for them.

This was followed by 28 per cent looking for a good Energy Performance Certificate (EPC) rating of C or above and 26 per cent pointing to double or triple glazing.

Leeds Building Society said that as energy prices were now double the same time last year, and set to increase further next year, people’s high ranking of energy efficiency was “no surprise”.

Other key priorities was fibre broadband connection at 25 per cent and walking distance to a shop at 24 per cent.

Around 19 per cent of those looking to buy said they had to compromise on criteria to fit their budget and 23 per cent said they would have to look outside their preferred area to meet their budget.

Richard Fearon (pictured), Leeds Building Society’s CEO, said: “It’s no longer just ‘location, location, location’ for aspiring homebuyers. The cost of living crisis is having a huge impact on the type of houses that people want to buy – with buyers prioritising homes that are likely to have lower energy bills in future.

“The UK’s housing stock is the oldest and least energy efficient of any in Europe. As a result, not only do homeowners have to spend more to heat their homes, but housing contributes 16 per cent of all UK carbon emissions.”

He added that 13.8 million homes had an EPC rating of D or lower, and if they were brought up to new build energy efficiency standard then there would be a £28bn saving per year and a reduction in carbon emissions of over 31 million tonnes.

Fearon continued: “We welcome the government’s consultation on extending the Energy Company Obligation (ECO) to deliver insulation and energy efficiency measures to more households.

“But there remains a great deal of uncertainty over the government’s response to making homes more energy efficient. There are question marks over the depth of impact from ECO+ funding and urgent clarity is required from the Government around the timing and scope of future changes to EPC regulations for rental and owner-occupied homes.

“Improving the energy efficiency of houses is one of the key imperatives in addressing the homeownership crisis, as we have set out in our set of public policy proposals. We must ensure solutions to the long-term challenges prospective buyers face are green and sustainable.”

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