A recent study has shown that homebuyers who purchase new-build homes could see their energy bills drop by as much as 60%.
Research from Warwick Estates has looked into the energy costs associated with running both new-build and existing homes on an annual basis and how the two compare.
Their research has shown that in England, energy bills for an existing property currently cost an estimated £797 per year. However, for a new-build property, annual energy bills cost just £390, a difference of £407 (51.1%).
Where are the highest savings experienced?
When conducting their research, Warwick Estates also looked at the cost of heating a home on both a regional and a local level. In doing so, they found that new-build properties can save homebuyers the most on their energy bills in the North West, where the annual energy bill for a new-build home comes in at 52.4% less than an existing property.
They also discovered the places where the difference between heating an existing property and a new-build home is the largest. Surprisingly, both of the top two locations were in London: Harrow and Redbridge. In both boroughs, new-build homes are 60.1% cheaper to heat than existing properties.
The locations where homeowners experienced the highest savings were:
- Harrow (60.1%)
- Redbridge (60.1%)
- Malvern Hills (59.9%)
- West Devon (59%)
- Ryedale, North Yorkshire (58.9%)
- Solihull, West Midlands (58.8%)
- The Derbyshire Dales (58.3%)
- The Forest of Dean (57.8%)
- The Wirral (57.8%)
- Gwynedd, Wales (57.5%)
Speaking about the results of the survey, Bethan Griffiths, chief operating officer of Warwick Estates, commented: “The energy efficiency difference between new-build homes and older, existing properties is stark. Improved insulation technologies, better windows, smart meters, and more, all contribute to a notable saving every year.
“Not only does this increased efficiency save the homeowner and occupier large sums of cash, but it also significantly reduces the home’s carbon footprint. So there is a far wider benefit than our bank accounts alone.”
Preparing for rising bills this winter
The increased energy efficiency of new-build homes is a major part of their appeal. However, if you live in an existing property, there are several steps you can take to make your home more energy efficient and take advantage of lower energy bills.
With the energy crisis set to continue throughout this winter, looking into ways that you can make your home more efficient is an important step in reducing your energy bills. This is particularly the case because you currently cannot run an online energy comparison and switch tariffs. This is because the best energy deals available from the UK’s best energy suppliers cannot beat the current price cap.
Thankfully, by taking simple steps like not leaving appliances on standby and upgrading to energy efficient appliances, you can keep your heating bills under control this winter without the need to move house.