A recent survey undertaken by FTSE 250 real estate business Savills, has found that 77 in every 100 people asked now consider a property’s energy consumption as a key factor during any property purchase. The survey was undertaken at the end of August 2022 with the vast majority of survey participants looking for properties under £500k in value. The survey also found that approximately a fifth had investigated air source heat pumps and ground source heat pumps. However, only 4% and 2%, respectively, had actually implemented this as a physical project in a domestic property. Without a doubt, a property with renewable energy elements not only reduces energy costs, is better for the environment, but it also adds value to your property and helps in any resale.
Research analyst at Savills, Frances McDonald, stated: “With energy bills and inflation dominating news headlines, it’s no surprise prospective home buyers are beginning to think about more than just the price of their next property. Our previous buyer and seller survey in April also highlighted that the EPC rating of a property played an important part in decision making for more than two-thirds of respondents. And, six in ten buyers (59%) would be willing to pay more for a home if 75% of its energy came from renewable sources.”
A standout statement from the research analyst was; “Almost six in ten buyers (59%) would be willing to pay more for a home if 75% of its energy came from renewable sources.” This is a significant consideration for any future value of a property if you are considering heat pump technology. Savills plc is a British real estate services company based in London. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.