Key stats:
- 72% of respondents say that a home with a high energy efficiency rating is important to them.
- 65% say the current cost of living crisis is delaying them buying a home.
- 79% say that the current cost of living crisis has reduced the amount of money they are able to save for a deposit each month.
The majority of buyers are prioritising energy efficiency in their property search, a new survey from property portal Share to Buy has revealed. The recent report of over 2,600 first time buyers identifies a growing nationwide shift towards greener, more eco-friendly homes, with 72% of house hunters revealing that a home with a high energy efficiency rating is important to them.
The survey paints a vivid picture of the first time buyer landscape at the start of 2024. Underpinning the move towards more efficient homes is a concern about monthly costs and affordability – since February 2022, energy prices have soared, and many have seen their monthly energy costs double.* A significant 79% of survey respondents reported that the current cost of living crisis has reduced the amount of money they are able to save for a deposit each month, while 65% of those surveyed said that the cost of living crisis is actually delaying them buying a home.
The survey has been conducted by leading first time buyer property portal Share to Buy, home to the largest listing of properties available through shared ownership and other affordable housing schemes in the UK. The majority of properties listed on the portal are new-build homes, many of which are fitted with a wide range of eco-features, from modern insulation and solar panels to air source heat pumps.
Nick Lieb, Chief Operations Officer at Share to Buy, comments: “It’s no surprise that the current cost of living crisis is impacting people’s property search – from buying timelines to property must-haves, first time buyers are being forced to try and cut costs wherever they can. New homes mean modern building regulations, double glazed windows, better insulation and energy-efficient boilers, resulting in more sustainable properties and, ultimately, lower monthly costs for buyers.”
“Based on the results of our survey, affordable homeownership options, such as shared ownership, are critical in the current economic climate. By offering both greener homes and lower deposits, shared ownership can fundamentally help first time buyers who are currently priced out of the open market reduce all-important costs and finally step onto the property ladder.”
Shared ownership is a government-backed scheme which enables buyers to purchase a share in a home. Shared owners will pay a mortgage on the portion they have purchased, whilst paying subsided rent on the remaining share. As a result, the amount required for a shared ownership deposit is often substantially lower than buying a home on the open market.
Property portal Share to Buy is the UK’s leading independent website for first time buyers, listing over 18,000 homes available through alternative housing schemes in 2023 alone, as well as providing a wealth of independent information and how-to guides for budding buyers.
Developments and eco credentials
This multi award winning development from L&Q and The Anderson Group spans a 50-acre site and will establish high quality living, along with educational and community spaces to build on the ecology of the site. Creating a beacon for sustainable living, The Quarry will welcome a thriving new community within environmentally focused grounds that house a dedicated ecology area. This will help retain existing habitat for protected species, while new wet pond features aim to increase biodiversity.
View homes on Share to Buy: https://www.sharetobuy.com/developments/1740/
- Air Source Heat Pumps.
- PAYC active car charging facility or passive supply for future installation to all parking bays.
- Solar electricity panels.
Latimer by Clarion Housing Group are offering a brand-new collection of one, two and three bedroom shared ownership homes at Highcross, West Croydon. These energy-efficient homes feature underfloor heating, integrated appliances, ample storage space and sleek kitchens with a neutral colour scheme. With the exception of floor twenty-three, where each apartment has a private terrace, each home has a winter garden – a greenhouse-style area, separated from the main living area.
View homes on Share to Buy: https://www.sharetobuy.com/developments/4770/
- Energy efficient homes.
- LED under counter lights to kitchen.
Aspect Croydon offers a selection of one , two and three bedroom apartments from NHG Homes. Close to plenty of amenities and transport links, the homes also benefit from eco-features such as energy efficient underfloor heating and low energy LED white downlighters throughout. Apartments also apartments boast views of the city skyline from their full-height windows and private winter gardens.
View homes on Share to Buy: https://www.sharetobuy.com/developments/3972/
- Low energy LED white downlighters throughout.
- Energy efficient under floor heating.
Visit www.sharetobuy.com to discover more.
