Soaring energy costs push Yorkshire buyers towards new builds

Soaring energy costs are pushing buyers towards more efficient new-build homes.

By Gemma Jimmison
Tuesday, 26th April 2022, 7:55 am
Updated Tuesday, 26th April 2022, 8:35 am

Research from the Home Builders Federation implies buyers are becoming more aware of energy costs and consumption. A recent survey indicated that three in four people are worried about their home’s energy performance, and one in four said energy effectiveness will be a crucial factor in their next move.

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Yorkshire developer Mulgrave Properties has identified an unprecedented increase in interest for lower carbon, energy efficient homes, most notably since the Chancellor’s Spring statement in March. Director of Sales David Smith said: “In 2021, 5 new creditors entered the green mortgage market and there are now 14 green mortgage lenders, together offering dozens of loan deductions and cash-back incentives if purchasing a newly developed property.”

More than four in five new builds are now in the top two Energy Performance Certificate (EPC) bands, compared to less than one in 20 existing properties, while buyers who purchased newly built homes in 2021 saved an average of 52 per cent on their annual energy. Mr Smith added: “With realities of the soaring cost of living apparent, applications for green mortgages anticipated to skyrocket over the coming years as buyers switch on to sizable savings.”