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New-Build Properties Save Owners £2200 a Year in Bills

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    Older Properties Lagging Behind in Energy Efficiency

    Rightmove’s Greener Homes Report for 2024 has shed some light on the connection between new-build properties and energy efficiency. The report utilises the portal’s wealth of property data to track progress and attitudes towards sustainable homes in the UK market.

    According to the findings, limited progress is being made in upgrading housing stock as a whole to meet new energy efficiency standards. This year, 43% of all homes for sale and 55% of rentals have achieved an EPC rating of C or above. This accounts for a 2% increase for both markets compared to last year’s figures.

    This report has been released just as the Government reiterated its commitment to implementing a minimum EPC rating of C for private rental properties. However, while the property market as a whole is making slow progress towards Net Zero goals, Rightmove found some sectors are performing better than others.

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      New-Builds Lead the Way

      Rightmove states that the new-build sector could act as a catalyst for driving growth in the retrofit market, due to the sector’s success in raising consumer awareness and demand for low-carbon technologies.

      Home Builders Federation data reveals that buyers of new-build homes can save over £2200 a year on energy bills, while these homes emit 36% less carbon compared to older properties.

      According to the report, 50% of landlords are concerned that the government will introduce costly charges for not meeting EPC requirements. These anxieties have led to a growing trend for new-build property investment, as investors can ensure their property is up to standard without having to carry out costly and time-consuming retrofit upgrades.

      RWinvest’s latest development launch, West One, has been designed with energy efficiency in mind from the start, resulting in EPC A ratings for the apartments. This exciting Manchester property boasts low-carbon technology such as solar panels, a leak-detection system, and air source heat pumps, among other eco-features.

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      Energy Bill Reductions Drive Owners to Upgrade EPC Ratings

      The report looked into some of the motivations and barriers surrounding energy efficiency in property. The data reveals that 81% of home-movers would consider making green upgrades if it meant they could save money on energy bills. A huge 72% of those surveyed would be willing to change how and when they use energy if they could access cheaper energy rates at different times.

      Rightmove’s findings back up the accepted wisdom when it comes to EPC ratings. A significant difference has been found in average energy bills when comparing homes by rating. The average bill of an F-rated property is £4312 per year, while a home-rated C has an average annual bill of £1681 – a substantial difference of £2631.

      Saving on energy bills has become a common motivator for investing in new-build properties. Take a look at our available properties page to see more investment opportunities.

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      Author

      Jessica Ferris

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      Jessica Ferris is a property writer at RWinvest, helping our readers stay ahead of property market trends with the latest news and statistics.

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        Eco-Property, Market & Investment Trends, UK