Britain adds thousands to house value this Easter

One in five homeowners are planning to invest in energy efficiency products for the home over the Easter period according to a recent customer survey from B&Q.

This significant shift in consumer purchasing behaviour comes at the busiest time in the home improvement calendar, as consumers prepare for the introduction of Home Information Packs (HIPs) in June.

50% of homeowners are concerned that the value of their property will decrease if it is not energy efficient. What’s more, the research revealed that most people believe their homes to be more energy efficient than they actually are - more than half questioned predicted their home would fall into band C or above, when in actual fact, most homes in the UK fall into bands D or E.

B&Q advises that spending a mere £500 on the right improvements this Easter could add up to £3000 to the value of your property, recouping the cost of a Home Information Pack and avoiding any loss in value due to a poor energy performance rating.

Miles Shipside, Commercial Director of Rightmove says: “Prior to the introduction of HIPs, neutral décor, fresh bathrooms and kitchens and plenty of storage were the strongest selling points which would add value to your property. We are now finding that an increased number of home movers are taking energy saving features into account when buying a new home. Energy efficiency is not only becoming a need for home movers but in some cases a deciding factor.

“Rightmove has been encouraging estate agents and developers to market more environmentally friendly homes as we believe they attract more interest from potential buyers. An environmentally inefficient home could lose value and as people become more aware of the importance of energy efficiency, it could take longer to sell. “

B&Q’s research found that the most popular planned energy improvements include draught proofing (one in four) and installing energy efficient lighting (one in five). Many were even looking into installing micro generation products, with 18% considering a solar panel and 12% a domestic wind turbine. Worryingly, only one in ten were planning insulation measures, which is the cheapest and most effective way of increasing your home’s energy performance rating. Insulating an average loft costs £300 and can reduce your annual energy bills by up to £220.

Jo Kenrick, Marketing Director at B&Q says: “This research shows our customers are clearly concerned about environmental issues, and taking steps to improve the efficiency of their homes this Easter. The easiest way to guarantee a quick sale after the introduction of HIPs in June is to brighten up the interior with a lick of paint, spruce up the garden, and most importantly, lay additional insulation in your loft, all of which combined could add up to £3000 to the value of your property.”