Majority of Homeowners Expect Energy Efficient Upgrades to Increase Property Value

New data published by Coventry for Intermediaries shows growing enthusiasm for energy-efficient property upgrades, especially among younger homeowners.

Nearly three-quarters (74%) of millennial and Gen Z buyers in the 18-34 year-old bracket believe that energy-efficient upgrades will increase the value of their home. The majority of Baby Boomer buyers (those aged 55 and over) agree, with 59% saying that eco-improvements will add value to their property.

The research also found that, on average, property owners expect to shell out just under £8400 to make energy-efficient improvements to their homes over the next three years.

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The financial benefits of energy efficiency seem to be a motivating factor even though these advantages, such as energy savings and increased house value, won’t be felt right away.

Jonathan Stinton, Head of Intermediary Relationships at Coventry for Intermediaries, said: “Energy efficient home improvements don’t just give people a way to reduce their energy bills today, they also provide a chance to future-proof properties for tomorrow’s market. Every energy efficiency tweak has the potential to boost a home’s resale or rental appeal, meaning energy efficiency isn’t just a buzzword, it’s a tangible asset which can add value to a home.

“The upfront cost of these improvements can be a barrier, but brokers have a key role to play to educate their clients about the benefits of energy efficiency changes, encouraging customers to view them as a long-term investment.”

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