Free Instant Online Valuation in just 60 seconds

How Renewables are Changing the Property Market

  • 2 years ago
Young female showing the Renewable energy concept

The combination of spiralling energy costs, inflation and concerns about climate change is causing many UK homeowners to look into renewable energy sources such as heat pumps, solar panels and wind turbines.

Almost two thirds of the UK’s homeowners and hopeful buyers say they’re likely to buy a property with solar panels, with this facility proving to be a big draw for them. This sea change can’t help but have a big effect upon the nation’s property market, but what will this change look like? 

The effects of renewables on the UK property market

In short, homes with renewable energy sources tend to sell for above average prices, with a recent survey by UK house builder Redrow finding that buyers are happy to pay more than 6% above the odds for a sustainable property.

This isn’t too surprising, as almost 90% of the UK’s people have “greened up” their buying habits in the last five years, so major purchases like property should be following suit. In fact, eco-friendly homes with their lower bills and carbon footprints, are increasingly attractive to buyers.

Buy-to-let landlords are also very interested in eco-friendly properties as younger renters are looking for lower bills and a more sustainable place to live. Buying a property with existing eco features or retrofitting an older property is a very attractive and lucrative investment.

Selling a house with solar panels can also be very lucrative, with a PV system raising the price of a London house by around £90,000 and bumping up a Manchester house by almost £30,000.

The green movement gets government backing

The UK government’s Green deal scheme can help homeowners to install or retrofit ecological equipment and measures into their homes, including PV, wind power and wall insulation, as well as energy-efficient heating and lighting. 

Making these changes not only helps to reduce homeowners’ carbon outputs, but it increases the long-term attractiveness and value of their properties, making eco-homes the big sellers of the future. 

 

Compare listings

Compare