Energy saving improvements increase property value by 14%
New research from the Department of Energy and Climate Change has revealed improvements to a property increase its value by 14% on average, up to 38% in some parts of the country.
They said an average home property which improves its Energy Performance Certificate (EPC) by two bands, could see a value increase of more than £16,000. In the North East this figure was £25,000 and £23,000 in the North West.
The government believe this is proof that the green deal is an effective and valuable scheme for consumers. DECC Minister Greg Barker said: “Not only can energy efficient improvements help protect you against rising energy prices [gas and electricity], but they can also add real value to your property.”
The Green Deal is aimed to help UK homes finance energy saving improvements. So far it has seen interest from thousands of homes, however only a few hundred have followed up by investing in improvements.
Business can also see similar benefits when they make energy efficiency improvements. However the initial cost may be quite large due to property size and the age of the building.
Getting a better deal on a property’s energy prices for gas and electricity is a good way to find additional funding for improvements.