There is some excellent news for new build homebuyers this week, as new a report from the House Builders Federation titled #WattASave has found that new build homebuyers are saving over £400 million a year on energy bills. This means that the average buyer saves £180 per month compared with buyers of older properties!
The past year has seen some major hikes in energy bills, which hit its peak in winter 2022. This, along with the ongoing cost of living crisis, has hit UK families particularly hard. In 2022, there was an estimated 3.26 million households in fuel poverty in England.
Energy prices are now gradually on the way down, with the Energy Price Cap decreasing by 17% for a typical household from the 1st July – but new builds are still saving homeowners thousands of pounds per year.
New build homes are much more environmentally friendly and energy efficient than their older counterparts. They require significantly less energy usage, using approximately 105 kWh per m2 each year, compared to older properties which use around 252 kWh per m2. Now that the Government are eagerly pushing towards hitting net zero targets, new houses must be built to evolving standards with high specifications and the most efficient building materials. This ensures that energy efficiency is considered from the start.
In comparison, owners of older homes face the task of having to take on disruptive retrofit measures to bring their homes up to similar standards. New build homes almost always have much higher EPC ratings than older homes – with 85% being rated A or B for energy performance in March 2023.
Looking to the future, the homes we release in future schemes will come under Part L of the Future Homes Standard, meaning they will be even more efficient than they currently are. The HBF report predicts that by 2025, new build homes will save purchasers nearly £3,000 a year in energy bills and will produce only 10% of annual carbon emissions than the average older property.
There has never been a better time to purchase a new build home! If you are interested in any of our developments or have your sights set on one of our homes, please get in touch with us here!