Homebuyers Prioritise Sustainability According to HBF Research
A lot has happened since 2015, hasn’t it?
Not just the usual trends and fashions that we look back on with the better sense that seven years’ hindsight produces, while wearing something equally daft.
Not even the fact that England have reached a World Cup semi-final and a European Championship final.
The events of the past three years will be studied in history books for centuries to come…we hope.
Amidst all of the twists and turns of the last quarter decade, one of the most alarming subplots to the COVID-19 pandemic was the climate crisis closing in on the point of no return.
It shouldn’t come as too big of a surprise then to learn that homebuyers’ priorities have changed considerably since 2015.
Back in those halcyon days, homebuyers’ were most concerned about location, according to research by Santander, as reported by Business Insider.
In fact, sustainability doesn’t even feature on their list of the top 16 factors considered when moving home.
It looks like homebuyers, lured in by a dream location, are now feeling the seven year itch, though, as the new top three looks like this, according to Home Builders Federation (HBF):
1. Outdoor space
3. Good EPC rating
The climate crisis and soaring energy prices have unnerved buyers to the point that these are now the deciding factors in a house move.
HBF’s research, carried out to mark New Homes Week 2022, found that 73% of respondents were worried about their current home’s energy performance, while 24% noted that energy efficiency would be ‘crucial’ to their next move.
HBF goes on to note that the survey results “place the UK’s residential developers [at] the forefront of meeting public demand for more energy-efficient living and show that when it comes to selecting a new home, sustainability is now a firm fixture at the top of our criteria.”
Meanwhile, HBF has reported that buyers of new builds are saving upwards of £400 per year on energy bills, while the properties are emitting around a third of the carbon produced by an average older property. This – combined with more lenders offering green mortgages – is a clear sign that things are moving in the right direction.
Developers, therefore, need to shout about their green credentials. While our Sustainability and Community Guides are the ideal way to present key information about the sustainable features of a development and property, local recycling arrangements, public transport options, energy and water saving tips, and much more, we can also help developers overcome the initial hurdle, whereby buyers weigh up whether a developer is meeting their energy-efficient requirements. With reports like the one from HBF, developers will be jockeying for recognition as one of the industry’s leading lights of eco-friendly homes. By including our Sustainability Statements in your marketing literature, sharing your green policies, pledges to use sustainable materials and the positive impact of your development on the local environment, you can secure your reputation with increasingly discerning buyers.