The difference in energy efficiency between older properties and new build homes has been laid bare in a new report by HBF, which claims that buyers of new build properties will save an average of £2,000 in energy bills and reduce carbon emissions by more than 2 tonnes per property each year. Collectively, says the report, new build home buyers are saving over £500 million and reducing carbon emissions by over 500,000 tonnes a year.
The report – Watt a Save - analyses government data on the energy efficiency of new build and existing homes and finds that:
· new build properties significantly reduce energy usage, with the average new build using approximately 100 kWh per m2 each year, as compared to older properties which require an average of 259kWh per m2
· new build properties save an average of just over £2,000 per property each year, with the average annual running costs for a new build totalling £1,500 as compared to an average of £3,570 for older properties. These savings rise to £2,600 a year when looking at new build houses alone, rather than smaller properties such as flats or bungalows
· 84% of new build homes were rated with an EPC of B or above, while less than 4% of existing dwellings reached the same standard.
HBF says: “On top of these dramatic savings, buyers of new homes are also contributing to the country’s progression towards net zero, with each new build preventing 2.2 tonnes of carbon being emitted each year."
The report also explores some of the most ambitious and forward-thinking examples of new homes in the industry. In contrast, owners of existing properties will often find themselves facing disruptive, extensive and costly retrofit works to bring their homes to the same standard.
Stewart Baseley, executive chairman of the HBF, said: “The energy crisis is highlighting starkly the efficiency benefits and cost savings provided by new build homes. Energy efficiency is increasingly a priority for house hunters and the financial savings clearly demonstrate why. In the face of the cost of living crisis we now need lenders to take these savings into account so that consumers can benefit further through cheaper mortgages.”
The report can be read here.
