Good EPC ratings could boost property sales, with the Mortgage Advice Bureau finding 61% of buyers would be more inclined to make an offer for C+ rated properties.
In a survey of prospective buyers, 29% said they would be much more likely to make an offer for a property with a good EPC rating. Marginally more, 31%, would be “somewhat” more likely to do so.
A further 17% of prospective buyers would actively go out of their way to research EPC ratings when searching for a property.
The subject of EPC ratings has been gaining greater recognition since the government announced plans to mandate improved EPC ratings among rental properties, bringing privately rented properties up to a minimum C rating.
Ben Thompson, deputy CEO at the Mortgage Advice Bureau, said this showed improved EPC ratings could be used to incentivise investment rather than simply penalise lower-rated properties.
“The UK has some of the leakiest housing in Europe, and with energy performance now considered amongst the fundamental factors that buyers look for, sellers and developers should be focusing on this,” said Ben.
“Incentivising buyers through green mortgages could be achieved by offering them rewards or by going even further, with support from the government to offer the potential of a stamp duty rebate for those who retrofit a newly bought home to a C or above. This can ultimately improve the affordability of borrowers in the long run, improve market conditions, and make a difference to net-zero targets.”
The results were gained from a sample of 1,003 prospective home buyers who are looking to buy in the next 24 months.
