Improving the energy efficiency of your home could at up to £16,000 to its value, according to a new report by the Department of Energy and Climate Change (DECC).
Raising a property’s energy rating from Band G to E by installing loft insulation or upgrading to a more efficient boiler could improve sale value by up to 38%.
Homes in the north-east may see values rise by an average of £25,000, while those in the north-west might see a rise of £23,000. The biggest rise would be seen in London, where it is estimated house values could rise by £41,000 on average.
The Energy and Climate Change Minister Greg Baker spoke about the benefits of the Government’s Green Deal scheme, which pays for the upfront cost of renovating houses with poor energy efficiency. He said there were “huge potential rewards” for taking advantage of the scheme.
Baker pointed out that such an endeavour could add real value to a property, whilst combatting rising energy prices.
The report from the DECC will no doubt be welcomed by our home insurance and as well as our landlord insurance customers, some of whom may have been sceptical about the benefits of such an investment. But with energy prices continuing to rise, and with ever-harsher winters being experienced across the UK, the DECC report may well encourage greater take-up of the Green Deal scheme.