Are Electric Car Charging Points The Next Big Thing In Property Market?

17th November 2021 posted in PROPERTY NEWS

With COP26 taking place in the UK in November, it is natural many people are focusing on environmental issues, and this can be seen in the housing market.

Since October 2020, there has been a 541% increase in Rightmove property listings with “electric car charging point” listed. A third of this increase relates to listings added in the last month or so, which means that this is a hot trend right now.

Tim Bannister, Rightmove’s Property Expert, said: “This week, concerns about the environment are rightly front and centre of the headlines, and this study is an interesting example of how growing awareness about the environment and energy efficiency can impact the property market. The number of electric vehicle charging points is continuing to rise, and in turn, we’re hearing from agents that potential buyers are increasingly adding access to a charging point to their list when choosing the right home. Alongside the energy performance of a home, we anticipate electric car charging points will become more important for buyers over the next few years and will be an additional selling point for movers listing their home.”

Sadly, at the time of checking, none of the 74 properties listed for sale in Letchworth Garden City on the Rightmove site had “electric car charging point” in the listings. This might be something to consider if you plan on selling your home soon.

Are buyers focused on energy-efficiency?

However, it seems as though not everyone is focused on energy-efficiency in the housing market.

A study undertaken by the Energy Efficiency Infrastructure Group, which spoke to more than 2,000 adults, provided the following results:

·       Only 13% of respondents said energy-efficiency was something they considered when buying their home

·       There were considerable regional variations, with 26% of London buyers considering energy-efficiency but only 5% of Welsh buyers doing the same

·       29% of buyers aged between 18 and 34 considered energy-efficiency matters when looking for a home

·       Only one in six homeowners has serious plans to improve the energy efficiency of their home in the next five years

David Adams, EEIG spokesperson, says: “Even with worries about energy supply, rocketing energy bills and climate change in the press daily, it’s clear from our research this isn’t prompting the magnitude of demand for home energy performance improvements necessary to solve these problems. Clearly, government intervention is necessary to change this trajectory, but so far short-term initiatives have failed to deliver the kind of sustained take up necessary. In the absence of any other viable approach to stimulate and support owner occupiers to act at scale, the EEIG is advocating for the government to deliver a green stamp duty incentive.”

Currently, in line with Government guidelines, our Letchworth Garden City branch is open and our and lettings personnel are here to assist you. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 481100 or email ian.ellmers@country-properties.co.uk.