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Three-quarters of homeowners don’t know their property’s Energy Performance rating

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28/09/2021
An energy-efficient property could be worth more, plus it will cost less to run in terms of energy bills
Three-quarters of homeowners don’t know their property’s Energy Performance rating

Over three-quarters (77%) of people don’t know the Energy Performance rating of their own home, according to Halifax.

That’s despite the fact that homes with the highest energy ratings are worth up to £40,000 more on average compared to less sustainable properties. Environmentally conscious buyers are willing to pay a ‘green premium’ for a more energy efficient abode, said the UK’s biggest mortgage lender.

The difference between the average property price of a home with an EPC rating of E compared to C is £11,000, which demonstrates the financial returns for more energy efficient properties. The greatest difference in property price between single EPC bands are those with G and F ratings, with the latter commanding almost £10,000 more on average.

What is an EPC?

People selling their homes in England and Wales must have an Energy Performance Certificate (EPC), which ranges from ratings A-G and is valid for ten years – with A being the ‘greenest’ and G being the least.

But your home’s EPC rating isn’t set in stone. Making simple adjustments to a property could give you a higher EPC rating, help you save money on energy bills and potentially increase your home’s value.

Top tips for making your home greener

Improving the energy efficiency of your home doesn’t have to cost thousands, according to Halifax. It can be as simple as swapping out regular lightbulbs for more efficient LED bulbs, or adding draughtproofing measures to external doors.

Whether you are giving your current home a ‘green’ makeover to reduce bills, getting it ready for prospective buyers or on the lookout for a more environmentally friendly property, Halifax has developed the following top tips to consider:

Check the official government EPC website

Knowing your home’s EPC is vital to understanding which steps are the most appropriate to take in order to improve it. You can find the EPC of any property on the government’s EPC site, along with suggested improvements to help reach its potential: https://find-energy-certificate.digital.communities.gov.uk/

Carry out an energy efficiency health check

The first step to a more sustainable home is identifying the areas for improvement that will have the most impact. For a tailored action plan on the green upgrades that you should consider, visit: https://www.halifax.co.uk/mortgages/help-and-advice/green-living/home-energy-saving-tool.html

Switch to energy-saving lighting

One of the quickest and simplest changes you can make that will make a huge difference to your energy bills is to replace all your home’s current light bulbs with energy-saving light bulbs.

Use smart thermostats

A smart thermostat helps you save money by heating your home more intelligently. It’ll learn the best way to keep you warm at home while using the minimum possible energy. The more you use it, the more efficient it will become.

Upgrade your boiler

Swapping out your old boiler for a newer, more efficient condensing boiler is a sure-fire way to make your home greener. With a larger heat exchanger, they recover more heat than old models and will give a lasting reduction on your energy bills. If you do decide to upgrade, it’s worth doing some research to work out the best option for your home.

Invest in solar energy

You can start generating your own renewable electricity by making use of the free energy from the sun, with solar panels. As well as cutting down your household bills, solar panels are much greener solutions as the energy is renewable.

Andrew Asaam, mortgages director at Halifax, said: “The housing market has fluctuated significantly in the last 18 months. This, and the effect of lockdown, has made many of us reconsider what we value most in a home.

“Increasingly, buyers are recognising that environmentally friendly properties will reduce their monthly energy bills in addition to their personal carbon footprint. With our analysis also finding that greener homes sell for more money, it’s worth seeing what your home’s potential rating could be.

“Homeowners at the lower end of the energy efficiency scale are likely to see the greatest returns on their investments, even from making simple changes like switching to LED bulbs or adding loft insulation. There’s a huge opportunity for more people to get on board with this and reap the rewards.”

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