A NatWest study found younger homeowners are more in favour of policy proposals offering support to make homes more sustainable than their older counterparts.
In its ‘Greener Homes Attitude Tracker – July 2024’, the bank revealed 44% of younger homeowners (aged 18-44) view sustainable policies as “very important,” compared to 34% of older homeowners (aged 45-64).
Combined overall, more homeowners are planning sustainable improvements to their homes, with just over two-thirds (67%) planning for the next decade – the highest level seen since 2022 – and 23% planning changes in the next 12 months.
The study also notes that 68% of those without plans say cost remains a barrier to making greener home improvements, however fewer homeowners are being put off by the upfront expense (down to 42% in the three months to June 2024).
Lloyd Cochrane, head of mortgages at NatWest, said: “From our own research, we know that making greener changes is an important part of home ownership, particularly for the younger generation. We’ve seen a real shift in people being environmentally conscious – whether that’s looking to save on energy bills or taking public transport to reduce their carbon footprint.
“Relevant solutions, suppliers and funding needs to be more accessible to customers and homeowners across the UK. In order for people to realise the potential benefits and confidently undertake work to their homes, it’s incredibly important that we’re able to provide viable solutions to these property owners.”
A wider look at homebuying found that 40% of prospective homebuyers still view a property’s EPC rating as a very important factor, but less consider an EPC rating of C or above as essential.
However, homebuyers view environmental features such as water meters (25% consider it “essential”), solar panels (14%), EV charging points (12%) and heat pumps (11%) with increasing importance.
NatWest commissioned the Greener Homes Attitude Tracker, based on 4,500 UK individuals, to understand how homebuyers, renters and owners feel about greener homes and the importance of environmental features.
