How important is energy efficiency to potential buyers?
Research by NatWest suggests that EPC Ratings are increasingly important to potential buyers. Find out why a higher EPC rating could make all the difference in attracting a potential buyer.
What is an EPC?
If you've ever bought a brand new appliance you'll have noticed a multi-coloured sticker informing you how energy efficient the item is. An Energy Performance Certificate (EPCs) is the same concept, just for buildings. The EPC is completed by an Energy Assessor and will tell you how energy efficient a building is, giving it a rating from A (very efficient) to G (inefficient).
The EPC will also make recommendations on how to improve a property's energy efficiency with measures ranging from switching to more energy efficient light bulbs to installing a more economical and eco-friendly heating system.
How important are they to buyers?
According to NatWest, the EPC rating of properties grew in importance throughout 2022 for prospective homebuyers. Its research showed 41% of those looking to purchase a property in the next 10 years stated that the EPC rating was a “very important” factor, a figure that was up from 33% a year before.
This means buyers feel an EPC rating is more important than the “amount of local green space” and of equal importance to the “levels of noise pollution” and “air quality".
A fifth of people hoping to buy property in the next 10 years said they considered an Energy Performance Certificate rating of C or above to be "essential". This figure has again increased significantly in the last year, 17% than 2021.
The most important factors to home buyers remained the cost and location of the property.
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