Next Generation home buyers happy to pay more upfront for greener homes and put environmental issues top of the buying agenda
New research from Make UK Modular reveals public backing for greener, more energy efficient homes.
Introducing stamp duty incentives for the most energy efficiency homes will ensure the UK is building greener homes for a more sustainable future.
- Six in ten renters and buyers say that the environmental performance of a new home is important to them.
- One in two people would pay more upfront for a greener home.
- Nearly eight in ten people would pay more upfront for a home with lower energy bills.
- Under 30s see greener homes being of the greatest importance and are more willing to pay more for them.
- Modular homes are seen as being part of the answer, with more than 25% citing modular homes as environmentally friendly, nearly 30% as efficient, and over 35% as modern.
Make UK Modular is calling for a radical approach to stamp duty based on a homes’ energy performance as part of a green housing revolution.
A new report by Make UK Modular, in partnership with Octopus Energy, reveals overwhelming backing from the British public for more energy efficient homes. The new report Green Shoots: The future of UK housebuilding shows broad public support for homes that are better for the environment and better for the public’s pocket.
Research was carried out by Savanta, surveying 2,300 adults in the UK, using a nationally representative sample, asking their views on greener homes and whether they would be prepared to pay for them.
Six in ten home renters and buyers said that the environmental impacts of a new home was important to them, demonstrating the public’s desire for new homes to be more environmentally friendly. This was further underlined by 40% of the public saying it would be willing to pay more upfront if their home was environmentally friendly.
By aligning to the Prime Minister’s recently announced net zero approach, the proposed measures would not add additional burdens on households, but instead drive energy efficiency in a way that lowers household bills. This desire to have greener, more sustainable homes was even more in evidence among the next generation of home owners and buyers, with 66% of those surveyed aged between 18 and 30 saying it would be willing to pay more for an environmentally friendly home.
With energy bills still higher than in previous years, eight in ten members of the public would be willing to pay more for a home if their energy bills were lowered as a result. This received widespread support but again was particularly the case for those aged between 18 and 30.
Modular manufacturers can build greener homes at a competitive price, with many modular companies building homes in the top energy performance band, saving the average family up to £1,000 a year on its energy bills. Octopus Energy has even succeeded in providing a Zero BillsTM guarantee for five years on highly energy efficient homes which are fitted with low carbon technologies. The energy supplier is already working with a number of Make UK Modular’s members in a bid to deliver 50,000 of these greener, bill-free properties by 2025.
Make UK Modular, the trade body for modular housebuilders, is now calling for a green housing revolution to tackle the housing and climate change crisis together. By taking a modern approach to stamp duty based on energy performance, reforming the Affordable Homes Programme and ensuring the planning process fast-tracks greener house building, the Government would unlock the potential for modular homebuilders to build the greener homes for the future that the public are demanding.
Daniel Paterson, Director of Government Affairs at Make UK Modular said:
“We are on the cusp of a green housing revolution. This report clearly shows wide public demand for modular building methods that reduce the costs to the environment and to household budgets. We now need to see action on the part of government to allow for these greener homes that not only help reduce the carbon cost of construction but help the household pocket too. Government can help today at zero cost to the Treasury by introducing demand side reforms of stamp duty rates, reforming the Affordable Homes Programme allocation for modular builders, and using unspent pledged funding to help improve supply chains.”
Michael Cottrell, Zero Bills Homes Director at Octopus Energy said
“The evidence is clear to see: greener homes are fast becoming hot property, and modular manufacturers are particularly well placed to deliver the revolution. When powered by Octopus’ industry-leading smart tariffs, these homes have the potential to radically lower energy bills for consumers – in some cases all the way to zero. We’re now calling on developers of all shapes and sizes to help us make greener, bill-free homes the new standard.”
Read the report here – Make Modular Green Shoots Reports 2023 | Make UK