Homebuyers more likely to consider a green home - report
New research has shown that more than three quarters (77 per cent) of people in the housing market are likely to choose a green home for their next purchase.
And 70 per cent of people looking to get on, or move up, the housing ladder are also willing to pay more for better energy efficiency.
The Green Homes Report: What Buyers Want, commissioned by law firm Shakespeare Martineau, included a survey of more than 500 first time buyers and those on the property ladder looking to move into their next home this year.
Top reasons for wanting a green home included it 's 'better for the environment ' (39 per cent), it will 'save me money in the long run ' (27 per cent) and 'I want to reduce my energy bills ' (35 per cent).
Neil Gosling (pictured), head of residential development at Shakespeare Martineau, said: “With bills high on the agenda of many homeowners, now is a good time to increase adoption of green home technology, ahead of 2025 building regulations for net zero coming into force.
“Our research also shows that buyers are willing to pay more for features like renewable energy sources and energy-saving measures such as triple glazing - indicating a commercial incentive for developers. ”
More than a third (34 per cent) of homebuyers also wanted to reduce their carbon footprint and get ahead of the curve, stating: 'I think eventually all homes will need to be green so I will pre-empt this. '
Despite a significant uptake, 35 per cent of respondents who were likely to purchase a green home said they wanted to understand more about how it would benefit them in the future, indicating a gap in knowledge and understanding.
Neil added: “Housebuilders should be doing more to emphasise the health and economic benefits of green homes in their marketing. ”
When it comes to availability, however, of those considering a green home, just 14% of respondents in the Midlands said there were green homes available in their desired location, compared to 25 per cent and 24 per cent in the North and South, respectively.
The results also show that age, social class and gender are influencing factors in demands and expectations of green homes.
The age group most likely to consider a green home is 35 to 44-year-olds at 84 per cent, followed by 25 to 34-year-olds (78 per cent).
Seventy-six per cent of 18 to 24-year olds would opt for a green home, in contrast just 64 per cent of respondents aged 45 and over.
First time buyers are more likely to consider a green home (80 per cent), compared to 73 per cent of second-time buyers. Currently the average age of a first time buyer is 34.
Six per cent of respondents said they were unlikely to choose a green home and 18% said they were neither likely nor unlikely.
Almost three quarters (72 per cent) of those who were undecided said it was because they didn 't know enough about it, while 29 per cent said they felt 'indifferently ' about green homes.
When given a detailed description of what a green home is, 76 per cent of people said they would be more likely to consider purchasing one for their next property.