2.2 million households are anticipated to spend just over £16 billion on ‘green’ improvements to their homes this Spring according to new research by AA Financial Services.
Over half of households are expecting to make improvements involving double glazing, a third set to add or improve insulation, 13% planning solar panels and 7% introducing measures to be carbon neutral.
Just one in every thirteen properties sold across England and Wales over the last year achieved an energy rating of A or B, London the greenest region with one in eight. However, over 40% of the properties sold could reach an A or B with energy improvements..
Realising value is a key motivation of such improvements, and while ‘green’ additions cut domestic energy bills in the short term, they can also be a benefit at point of sale. Over the last year properties sold with an A or B energy efficiency rating have obtained, a 9% premium (per square foot) compared to those rated F or G.