Further analysis shows some regional difference in the median increase in property price, when the EPC rating is improved from a D to A/B, across each region of England
Homes in the North East sees the greatest percentage increase in value, where an improved efficiency rating sees property value increase by 12.2 per cent which equates to £16,219. However, as a result of a higher average property prices the South West sees the highest monetary increase from an improved energy efficiency rating with the average property value increasing by £19,576, an improvement of 7.7 per cent.
A closer look highlights the 5 cities that offer the biggest improvement in property price when the EPC rating is increased from a D to A/B with Lichfield in Staffordshire coming out on top. Property prices here can be increased by as much as £24,766.
How energy efficiency is calculated for an EPC
An energy assessor will conduct the complex calculation for an EPC. Factors which contribute to the rating primarily include the type of construction of the building, the uses of different areas of the building, any heating, cooling, ventilation, and hot water systems used, as well as the lighting.
The calculation compares the carbon emissions of the building being assessed with a reference building of the same size, structure, and usage, which is constructed to a similar, specified standard.
An EPC is only required when a building is constructed, sold, or rented out. Property advertisements must include some description of an EPC rating or the certificate itself. Unless major renovation work is carried out on the property the energy performance certificate lasts up to 10 years.
In cases where energy isn't used to control the temperature of the building, there's no need for an EPC at all.
5 ways to improve your homes energy efficiency
With relatively simple changes such as insulation, lagging pipes and fitting energy efficient light bulbs, you can not only increase your property price for sale, but also reduce your energy bills while you live in it.
Installing cavity wall insulation not only offers a chance to improve the energy efficiency rating, but could also save you up to £160 a year while you live in the property.
A "lagging jacket" insulates your water pipes and greatly improves the efficiency of the hot water tank.
Something as simple as switching to energy-saving bulbs instead of traditional ones can improve home energy efficiency for minimal effort.
A newer, more energy efficient boiler can have a significant effect on the energy consumption of your property.
An existing EPC offers a guide to some specific steps on how the energy consumption of your property can be reduced.
Looking for cheap Gas & Electricity?
We compare prices from energy suppliers across England, Scotland and Wales to help lower your fuel bills.
Sources & Methodology
The median EPC rating across Wales, Scotland, and England is a D. In order to show examples of how much homeowners could increase the value of their property, we have increased the average price of properties in each area by the factor of increase from a D EPC rating to an A/B EPC rating. The results for the South East were not statistically significant and thus have not been adjusted. For the East of England, results were not statistically significant for increasing ratings from a G to a D - as this prevents calculation, an average between the improvement from G to F and from G to C has been taken to use as a factor for working out the improvement from D to A.
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