
Increase investment property value through sustainability
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Property experts predict that homes with modern eco-credentials such as electric vehicle chargers and solar panels will command a higher premium than those without in 10 years’ time. They
will be worth on average nine percent more when sold, according to a study of estate agents by Hive. With new legislation coming into force in 2030, banning the sale of new petrol and diesel
cars, new buyers are increasingly looking to future proof their homes. As the nation prepares to go electric, estate agents have already started to see a surge in houses that are EV
friendly. Four in five (82 percent) stated a rise in customers searching for homes with an EV charging point already installed. By adding sustainable features to a property, investors may be
able to increase the value of their portfolios in the future. READ MORE: STATE PENSION: DWP ANNOUNCES CHANGES TO AFFECT THOUSANDS FROM NEXT YEAR That could be in the form of solar panels or
heat pumps. With net zero targets set for 2050, properties may need to be eco-proofed to fit this new agenda, to avoid the risk of being left out of the sustainable property boom. Tim
Bannister, Director of Data at Rightmove, said: “One of the clear driving forces behind the continued rise of property prices in 2021 has been a new focus from buyers about what one’s home
needs to provide, from gardens to additional space to work from home. “As we look ahead, it’s very likely that a home’s sustainability credentials will join the list of new priorities that
buyers are considering. “If there are affordable options for homeowners to make their homes greener, then they could become a more commonplace and practical addition to many homes. “They
have the potential to command a premium and provide an additional selling point for homes in the future.” Americo Lenza, Portfolio Director for Service & Solutions at British Gas also
commented on the push towards sustainable housing. She said: “With the ban on new petrol and diesel vehicles on the horizon, many people are considering how to make the switch to electric.
“However, it’s understandable that there are naturally some concerns about access to charging points. “It’s the responsibility of businesses and governments to help ease this transition,
which is exactly why we’ve launched Hive EV Charging – helping to further power the UK’s electric charging network. “It’s likely that smart charging as part of a wider home energy eco-system
will increasingly become the norm, as people look to make their homes more sustainable.”