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Three-quarters of Brits want to make home more energy efficient
But cash-strapped homeowners can’t afford green property upgrades because of rising energy bills
Three in four (75%) Brits say they want to make their home more energy efficient, according to Mortgage Advice Bureau.
But the broker found that, despite their desire for a greener home, nearly a quarter (23%) say they can’t afford to make changes to their property.
Cost of living crisis
The current cost-of-living issue has made it difficult for people to look at spending beyond their essential bills.
Over a third (37%) said they’ve prioritised their household bills over making home improvements. A third (33%) said that they simply don’t earn enough to make their home more energy efficient.
Other reasons Brits cited as not being able to make their home more energy efficient included not being able to afford to save for them (31%), home improvements being too expensive (28%), and the tax increase leaving them too worse off to pay for them (14%).
Future intentions
One in five (18%) said that they intend to make changes to boost their home’s energy efficiency in the future.
A further one in 10 admitted they can’t afford to make changes in the next 12 months and the same number said they don’t know what changes to make to their home.
Ben Thompson, Deputy CEO at Mortgage Advice Bureau, said: “The Government’s ambitious plans to reach net zero targets is having an effect on households, with an impressive number of people having the intentions to make their homes more energy efficient.
“But despite this desire, consumers are being hit from all sides with the cost-of-living crisis, including soaring inflation and rising household bills.
“This means households are having to delay their desired energy efficient home improvement goals to prioritise their finances. More needs to be done to help consumers, while also helping the environment and potentially reducing household energy costs.”