Research carried out by British Land found that 55% think it is important to consider the environmental impact and energy efficiency of a property before renting or buying. These findings come at a time when the energy price cap is set to hit £3,600 in 2022. 23% of 18–34-year-olds think it is very important to consider a property’s energy efficiency, compared to 18% of those over 35, demonstrating the increasing value of green issues amongst our future generations.
35% of UK adults are either extremely or moderately concerned about their impact on the environment, with a similar number of people concerned about living in an environmentally sustainable way (34%).
As people make more eco-conscious choices across the board, this is clearly translating into a willingness to pay more for sustainable purchases, including energy-efficient homes. 25% of UK adults would pay a premium to live in a more energy-efficient home, rising to 36% of 18-34-year-olds. Of those UK buyers who would pay a premium most would pay between 3-5% (43%).
The research found that 64% of people would consider moving to a new build home in the future but would pay particular attention to the construction process and materials used as part of their homebuying journey.
A home constructed with healthy (low chemical) materials would have some impact for 91% of people’s decision to purchase, while for 19% of buyers it would have a big impact. Purchasing a property where zero demolition or construction waste is sent to landfill would have some impact on 86% of people’s decision to purchase.
A new home with low or no carbon impact from construction would have some impact on a decision to purchase for 89% of buyers. The findings from British Land follow the recent publication of the Environmental Audit Committee’s Sustainability of the Built Environment report, which urges the government to impose stronger policies on the property industry to achieve its net zero goals. The report recommends making whole-life carbon assessments mandatory.
Matt Webster British Land, comments: “This research shows that sustainability is increasingly front of mind for people – particularly younger generations – and it is starting to translate into bigger life decisions, including house purchases. The real challenge in the residential space is the operational performance of existing stock and making sure these are energy efficient.
"At Canada Water, we are in the privileged position of building new homes, with sustainability fully integrated both in the construction methods we are using and once the apartments are completed and someone’s home.”
