A survey of people who own a home or want to buy one has found that a majority of younger ones are in favour of upgrades to improve energy efficiency.
This survey was produced by Coventry for Intermediaries. The results show that 74% of people within the Generation Z or Millennial brackets are keen to get energy efficiency upgrades done to their homes. The main reason given for this was the belief that it would lead to the properties rising in value in the years to come.
When it comes to older homeowners, the percentage in favour of such upgrades is lower but still more than half. 59% of those who are 55 and over told the survey that they think such alterations will raise the value of their properties.
Another piece of information that the survey revealed is that the average sum that homeowners plan to spend between now and 2027 on green upgrades is £8,400. Younger homeowners intend to spend £9,035 on this and expect a financial return of £11,123 on average. Older generations plan to invest £7,732 in improving the energy efficiency of their homes, for an anticipated return of £5,379.
Jonathan Stinton from Coventry for Intermediaries spoke to Financial Reporter:
“Our research and Beyond the Bricks report paints a picture of opportunity for brokers to educate and support homeowners on green home improvements and the true benefits they bring.”
This and green mortgage deals could provide advisors with further sources of income after their CeMAP training is completed.
