A new study reveals that homebuyers are prepared to pay a premium of 10% for properties equipped with eco-friendly features. Seven in ten consider it essential for their next home to have key green elements, according to a study of 1,400 homeowners. In what is being dubbed a ‘greenovation’ many are incresasingly making sure their homes are environmentally friendly.
For 58% of homeowners they hope these upgrades will enable them to save money in the short term, while over two-thirds hope it will increase their property’s value in the future. Solar panels, electric vehicle charging points, and heat pumps were the most eco-friendly upgrades in demand. Data from Rightmove supports this trend, with 77% of homeowners on their platform willing to pay a premium for energy-efficient homes.
TV presenter and property expert Scarlette Douglas made a visit to some of Britain’s unique eco-homes. She said: “I really enjoyed having the opportunity to uncover how Brits are greenifying their homes. From solar-powered lighting to rainwater recycling, it’s cool to see the new and quirky eco-elements people are adding to their homes.”
In the past 12 months, a quarter of households have switched to energy-efficient LED lights, 22% have had smart meters installed, 20% have upgraded their boilers, and 15% have added insulation, according to research commissioned by Smart Energy GB.
Interestingly, property TV shows and social media content have spurred 40% of homeowners into eco-friendly home improvements. After being influenced by what they saw, 23% switched to LED lighting, whilst 17% began upcycling furniture.
Homeowners reported saving an average of £25 per month on bills after implementing these eco-friendly upgrades, totalling around £300 annually.
The study discovered that acquiring a smart meter was the most common starting point for homeowners embarking on ‘greenovation’ (18%) and was seen as the most beneficial step by a fifth of participants.
“The financial benefits people see with the help of a smart meter are clear, too. From small steps to the more aspirational, I certainly feel inspired by the homes I’ve visited and the people I’ve met,” said Scarlette.
Victoria Bacon, director at Smart Energy GB, said: “Making eco-upgrades to your home can be easy, accessible, and impactful. One small change – like requesting a smart meter from your energy supplier – can help to kickstart your green home journey.”
Looking forward, the research, conducted via OnePoll, indicates that boiler upgrades (15%), solar panels (13%), and triple glazing (13%) are the top projects homeowners aim to tackle over the next three year
