Making homes more energy efficient or moving to properties that have already been improved is becoming a key focus for homeowners, according to new research.
A poll by advisory firm Cornerstone Tax found 36% of homeowners have listed making their home more energy efficient as a priority for them throughout this year.
The research found that 45% of homeowners would prefer to refurbish or extend their current home rather than move into a new build due to the environmental damage of new buildings while 12% are planning to move to live a greener life.
Half of homeowners said they have looked into making their home more energy efficient but found it too expensive without Government support, while 22% have found it impossible because of planning restrictions.
It comes after the latest RICS Residential Market Survey last week asked if respondents are seeing greater interest from buyers in homes that are more energy efficient, around 40% of the survey sample answered yes, but 60% said they do not see this trend.
Meanwhile, 41% of respondents noted that sellers were attempting to attach a price premium on homes with a high energy efficiency rating and 61% of contributors stated that highly energy efficient homes were holding their value in the current market.
David Hannah, group chairman at Cornerstone Tax, said: “It seems that homeowners all over the country are seriously considering turning to green renovations not only to combat the rising energy costs but also to add significant value to their home
“By making your home energy efficient, homeowners will also save money in the long run and contribute to the UK's sustainability targets.
"The initial costs of making green renovations to your home is still a substantial obstacle for homeowners to overcome. Perhaps in the future the government can provide much needed support to homeowners who are looking to refurbish their home to make it more eco-friendly.
“There’s evidently huge demand for greener homes as seen in the latest RICS survey and the benefits of making your home more energy efficient can be substantial - the main upside being that your property will hold value despite falling prices elsewhere.
"If you want the benefits of an eco-friendly home, without the extra expense or the hassle then the solution would be to buy a new-build property.
“However, homeowners have grown connections to their current properties and understandably may want to stay there – therefore choosing to refurbish their current home rather than move to a new property."
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Statistics, statistics. You can do what you want with them. Are nearly half (45%) of people so environmentally conscious that the environmental damage of building a new home would deter them from moving into a beautifully energy efficient home? My guess is that most of the people questioned weren't thinking of moving anyway and answered that it made sense to improve the energy efficiency of their own home which they liked living in.
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