Green deal measures could significantly increase property values
Improving the energy efficiency of your home could increase its value by up to 38% according to new government figures released this week.
A study of over 300,000 property sales by DECC concluded that installing measures such as loft insulation or efficient boilers to raise the energy rating of a home from band G to E could result in an increase of more than £16,000 on the sale price.
Energy and Climate Change Minister Greg Barker said the figures showed the “huge potential rewards” of the government’s Green Deal scheme, which aims to improve the UK’s draughty housing stock by providing financing packages to cover the upfront cost of refurbishments.
While the Green Deal is aimed at tackling the poor levels of energy efficiency found in many homes, the scheme has reportedly suffered relatively low take-up rates to date as a result of criticism of the high interest rates associated with financing packages.
Industry figures have also revealed a drastic slow down in the roll out of insulation improvements, as previous support schemes have been phased out and the Green Deal has so far failed to replace the demand that has been lost.
However, the government has maintained that interest in the Green Deal is building and argues that the combination of competitive interest rates and cash incentives makes the scheme an attractive proposition for many households.
Source: The Guardian