Improving your home’s energy rating can increase its value by up to £25,000, according to new research.
The MoneySuperMarket findings reveal that energy ratings can have a notable impact on property prices across the UK.
Using government and Rightmove data, MoneySuperMarket gleaned the average price of properties by area following an increase of a home’s Energy Performance Certificate (EPC) from a D rating to A or B.
Some locations can experience increases of up to £24,766 on average local property prices, with properties in the North East prospectively experiencing 38% property value increases after upgrading their EPC from a G to A/B.
However, the research also stated that the differences in price benefits varied across the UK, with those in the South East experiencing hardly any benefit at all.
Increase Your Energy Efficiency
An EPC incorporates any heating, cooling, ventilation and hot water systems your home uses, as well as the house type and layout. The current median EPC rating across Wales, Scotland and England is a D.
If you are currently in the midst of a self build or renovation project, optimising your home’s energy efficiency can have several cost benefits, including being cheaper to run in the long-term.
Increasing your home’s energy rating can be as simple as replacing traditional light bulbs with energy efficient ones. Installing insulation and upgrading your boiler can also help you make the most of your home’s energy.
Stephen Murray, energy expert at MoneySuperMarket, said: “Improving your energy rating can significantly increase your sale price for a relatively low cost. But it’s also valuable for other homeowners who aren’t planning to sell their properties, as a higher energy rating means greater home efficiency and reduced energy bills.
“Those looking to stay for a longer time will see greater benefits from investing in insulation, or in renewable energy sources such as solar panels and biomass boilers.”