Majority of younger prospective house hunters willing to pay more for a greener home

New research has revealed that the majority of those under 30 see greener homes as being of the greatest importance and are more willing to pay more for them.

Related topics:  house hunters,  environment,  Energy Efficiency,  green
Property | Reporter
6th November 2023
Green 725
"We are on the cusp of a green housing revolution. This report clearly shows the wide public demand for modular building methods that reduce the costs to the environment and to household budgets"
- Daniel Paterson - Make UK Modular

A new report by Make UK Modular, in partnership with Octopus Energy, reveals overwhelming backing from the British public for more energy-efficient homes.

Research was carried out by Savanta, surveying 2,300 adults in the UK, using a nationally representative sample, asking their views on greener homes and whether they would be prepared to pay for them.

Six in ten home renters and buyers said that the environmental impacts of a new home were important to them, demonstrating the public’s desire for new homes to be more environmentally friendly. This was further underlined by 40% of the public saying it would be willing to pay more upfront if their home was environmentally friendly.

By aligning to the Prime Minister’s recently announced net zero approach, the proposed measures would not add additional burdens on households, but instead drive energy efficiency in a way that lowers household bills. This desire to have greener, more sustainable homes was even more evident among the next generation of homeowners and buyers, with 66% of those surveyed aged between 18 and 30 saying they would be willing to pay more for an environmentally friendly home.

With energy bills still higher than in previous years, eight in ten members of the public would be willing to pay more for a home if their energy bills were lowered as a result. This received widespread support but again was particularly the case for those aged between 18 and 30.

Make UK Modular, the trade body for modular housebuilders, is now calling for a green housing revolution to tackle the housing and climate change crisis together.

By taking a modern approach to stamp duty based on energy performance, reforming the Affordable Homes Programme and ensuring the planning process fast-tracks greener house building, the Government would unlock the potential for modular homebuilders to build greener homes for the future that the public is demanding.

Daniel Paterson, Director of Government Affairs at Make UK Modular said: “We are on the cusp of a green housing revolution. This report clearly shows the wide public demand for modular building methods that reduce the costs to the environment and to household budgets.

"We now need to see action on the part of the government to allow for these greener homes that not only help reduce the carbon cost of construction but help the household pocket too.

"Government can help today at zero cost to the Treasury by introducing demand-side reforms of stamp duty rates, reforming the Affordable Homes Programme allocation for modular builders, and using unspent pledged funding to help improve supply chains.”

Michael Cottrell, Zero Bills Homes Director at Octopus Energy said: “The evidence is clear to see: greener homes are fast becoming hot property, and modular manufacturers are particularly well placed to deliver the revolution.

"When powered by Octopus’ industry-leading smart tariffs, these homes have the potential to radically lower energy bills for consumers – in some cases all the way to zero. We’re now calling on developers of all shapes and sizes to help us make greener, bill-free homes the new standard.”

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