New research reveals how much the value of your home can increase with better energy efficiency
The research, undertaken by BOXT, looked at each local authority and the percentage of EPCs at grade C and above, as well as the average house price in each local authority to find out how much a home’s value can increase with greater energy efficiency.
How much can your home’s value increase by?
|EPC Percentage||Range||Average House Price||Percentage Increase|
|20%-29%||£110,890 – £373,425||£208,373||28.02%|
|30%-39%||£131,036 – £770,509||£289,503||17.04%|
|40%-49%||£122,818 – £1,451,567||£348,987||11.32%|
|50%-59%||£165,940 – £1,030,679||£393,531||36.34%|
If your house has 20%-29% of EPCs at grade C and above, then improving it to between 30%-39% can increase your house’s value by almost 30%.
Below 40% is still under the average across England and Wales. By increasing the percentage of EPCs at grade C and above, you could potentially add the equivalent of just over £60,000 to your house’s value.
11% might not sound like much, but with the house price value increasing, it could potentially equate to an additional £45,000 on top of your house’s value.
Our biggest increase in house value is from 50%-59% to above 60%. However, it’s important to note that there are only two places in England and Wales that have 60% of EPCs at grade C and above.
Overall, by increasing the percentage of EPCs at Grade C and above by around 10%, you could potentially add 23% to your house’s value. It will take some investment to improve this though, however, in the long run, it could be hugely beneficial.
The research also looked at where in the UK has the highest energy value:
|Rank||Local Authority||Region||Percentage of EPCs at Band C and Above||Average House Price||Energy Value Score /10|
|4||Telford and Wrekin||West Midlands||52%||£212,946||8.48|
|6||Peterborough||East of England||53%||£231,752||8.15|
|10||North Tyneside||North East||45%||£193,554||8.03|
Knowsley in the Liverpool city region tops our list with a percentage of EPCs at grade C and above 12% higher than the average. This coupled with a reasonable house price of £165k, makes for a perfect balance.
Despite having a higher percentage of EPCs at band C and above, Salford has a higher house price which places it second on our list. Salford has the highest number of grade C and above EPCs in the North West region, with Knowsley second in that list.
Continuing with our North West theme is Halton which takes third place with an energy efficiency score of 8.53. The Cheshire local authority has a low house price with the percentage of EPCs at grade C and above 6% higher than the average.
- The most expensive average house price is Kensington Chelsea, which will set you back a whopping £1.4 million. Although the number of EPCs above band C is just higher than the average, it is nowhere near the best value for money.
- London’s Tower Hamlets has the highest energy efficiency in the UK with 73% of EPC’s at band C and above.
- Lancashire’s Pendle which has the lowest percentage of band C EPCs. At just 20%, Pendle is half the average of 40%. Although houses are cheap, it’s likely that there will be a lot of wasted energy which could cause your bills to rise even higher.
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Kindly shared by BOXT
Main photo courtesy of Pixabay