Buyers often go house hunting with an extensive checklist, and data shows EPC ratings are slowly making their way to the top.
According to new data from the Mortgage Advice Bureau (MAB), 61 per cent of prospective buyers are more likely to make an offer on a property with an EPC rating of C and above.
Additionally, 29 per cent said they would be “much more likely” and 31 per cent would be “somewhat more likely” to buy a property if it had a better EPC rating.
A further 17 per cent of respondents said they specifically focus on EPC rating of the properties while house hunting.
EPC ratings are becoming increasingly important to homebuyers
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Deputy CEO at MAB Ben Thompson, 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 of 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 borrows in the long run, improve market conditions and make a difference to net zero targets.”
In essence, energy performance certificates provide a measure of the energy efficiency of a building.
This gives the buyer a clear idea of the future energy and running costs for the property, should they purchase it.
Last month, the government unveiled plans to require landlords to improve EPC rating to a minimum of C by 2030.
Research by the Energy and Climate Intelligence Unit (ECIU) suggested that if every typical British household upgraded to an EPC rating of C, energy bills would be slashed by £200 annually.
The report identified the average household in the UK as having an EPC rating of ‘D’.
Some easy ways to improve an EPC rating include:
- Simple ways to upgrade your EPC rating are:
- Upgrade to energy-efficient lighting
- Insulate roof and walls
- Invest in double-door or triple-glazed windows
- Upgrade to an efficient boiler
- Install underfloor heating
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According to Zoopla, more newly built homes mainly have an energy efficiency rating of A or B.
Only four per cent of older homes meet this rating at present, however.
An EPC rating of E, F or G means your home is below the average level of energy efficiency in the UK.
While your EPC rating doesn’t directly affect your home’s value, it could impact the interest you get from buyers – especially if they’re conscious of energy costs.
