Improving the energy efficiency of your home has always been a good way to save a few pounds here on there on your bills, but new data has revealed how much of an impact it can have on the home’s value.
In a new study from Money Supermarket, it was found that improving your energy efficiency rating could be a real bonus for if you choose to put your home on the market.
According to the findings of the study, a property’s price can be boosted by as much as 14%, depending on the EPC Rating.
A correlation was found between the homes with higher ratings when it came to property values and the analysis showed that any rating up from a G will have a positive impact.
Even when comparing homes with a rating of F to a rating of G, there was an average 6% increase in value.
As expected, this continues the further up the EPC ladder you climb. Homes with a rating of E were 7% higher, homes with a rating of D were 8% higher and homes with a rating of C were 10% higher.
Properties that managed to reach the energy efficiency peak, scoring ratings of A’s and B’s were found to value at 14% more than a G rating. This means that a home valued at &250,000 could see a price rise of &35,000 if the right energy efficiency upgrades were completed.
Analysing data of homes throughout the country, not only did Money Supermarket look into the effect of a good EPC rating, but they also looked into regional differences in property values.
When the EPC is improved from a D to an A/B, it was the region of the North East that saw the largest rise in terms of percentage at 12.2%, however, when looking at the largest monetary gain, the South West took 1st place as prices improve by 7.7% and mean a gain in value of &19,576 on average.
Money Supermarket also provided a few tips on how to improve your own EPC rating such as installing insulation, adding lagging jackets to your pipes, upgrading your boiler and using energy efficient bulbs.
While some of these fixes could be costly, they certainly seem like they’re worth the effort long-term.
