According to data from the Mortgage Advice Bureau (MAB), 61% of prospective buyers are more likely to make an offer on a property if it has a good EPC rating (of C and above), while 29% would be ‘much more likely’ and 31% would be ‘somewhat more likely’ to buy a property if it had a better EPC rating.
During the property-hunting process, 17% of respondents said they will specifically look out for what a property’s EPC rating is.
MAB’s study also found that almost three in 10 (29%) of those surveyed consider energy efficiency to be a determining factor in their decision-making. Some 31% of respondents reported that they would be somewhat influenced to make an offer depending on a property’s EPC rating.
In August, the government unveiled plans to require landlords to improve their properties to a minimum EPC rating of C by 2030.
Ben Thompson, deputy CEO at MAB, said there’s a growing need to reward those going green in the push towards net zero.
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He said: “The UK has some of the leakiest housing in Europe, and with energy performance now considered amongst the fundamental factors that buyers look for, sellers and developers should be focusing on this.
“Incentivising buyers through green mortgages could be achieved by offering them rewards or by going even further, with support from the government to offer the potential of a stamp duty rebate for those who retrofit a newly bought home to a C or above. This can ultimately improve the affordability of borrowers in the long run, improve market conditions, and make a difference to net zero targets.”
