The cost of living crisis threatens progress towards the UK's Net-Zero ambition, as 45% of homeowners prioritise everyday bills over upgrading their homes (34%), according to recent findings from the RICS and You Gov.
Over half (51%) of homeowners who hadn't already installed new energy saving measures (but knew how to), cite costs as the reason why not.
This finding backs up calls from the RICS for more regulation to incentivise homeowners and landlords to retrofit a target 15 million homes. One policy mechanism could be via stamp duty.
A survey of 16,000 home movers by Property Academy in 2021 (before the cost of living crisis), found that 60% of those who would consider buying a new home, were motivated by energy efficiency. Source: Dataloft, RICS, YouGov, Property Academy