Homes with good EPCs are worth on average 14% more.
This claim – which is interesting, since our readers constantly tell us that no one looks at EPCs when buying – comes from the Department of Energy and Climate Change, which says that making energy improvements to a property could boost its value by even more than the average, by as much as 38%.
For an average home, improving its EPC from band G to E, or from band D to B, could mean adding more than £16,000 to the sale price of the property.
In the North-East, improved energy efficiency from band G to E could increase this value by over £25,000 and the average home in the North-West could see £23,000 added to its value.
The DECC's report, which took into account over 300,000 property sales in England between 1995 and 2011, says that its research ‘indicates’ that energy efficiency is now a key factor influencing the sale price of most residential dwellings in England.
Energy and Climate Change minister Greg Barker said: “We have long known the benefits of making energy saving improvements to the home, but this study is real evidence of the huge potential rewards.
The general public are growing in confidence about the housing market, two new surveys have claimed. A third survey separately pinpoints growing optimism among first-time buyers.
Halifax said this morning that 39% of respondents to its ‘Housing Market Confidence tracker’ poll believe house prices nationally will increase next year – almost double the proportion that believe they will go down.
A similar poll by property portal Zoopla says that 67% of British home owners expect house prices to rise over the next six months. The average property price across Britain is expected to rise 3.9% between now and October.
The Zoopla poll also says that people are now finding it easier to get a mortgage than at the end of last year, with 17% saying availability has improved. However, in the Halifax poll, 25% think that lack of mortgage availability is a major obstacle to home buying, and 45% think that raising a deposit is a serious problem.
Both the Zoopla and Halifax polls report highest confidence among home owners in London, where house prices are expected to rise by 5.5% in the next six months, according to Zoopla.
The Halifax survey says that most people still think of it as a buyers’ market: 55% think now is a good time to buy, more than double the 24% who believe it is a good time to sell.
The Halifax poll also finds that nearly two-thirds of people (61%) are worried about job security, citing this as the major potential threat to the housing market.
In the third poll, from the Post Office, aspiring first-time buyers were asked about their plans. Of those who plan to buy within the next five years, 14% expect to buy this year, and 22% next year.
Almost half (45%) are confident of being able to fund the deposit themselves by saving up, while 16% will get help from their parents and the same proportion plan to use the Government’s FirstBuy scheme.
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