A KNIGHT Frank and EC Harris report has found that a large majority of households support eco-home developments in the United Kingdom.
According to the ‘Eco-homes, economically sustainable?’ report, 87% of respondents surveyed would not oppose retro fitting of green technology for houses and 86% want more information on impact of eco-measures in the home.
In addition, 59% are willing to pay a premium for an eco-home and 43% consider environmentally features important to current purchase.
“Over the next decade we expect to see the three strands of eco-awareness, design quality and place making, combining in terms of market placement – the key for developers is to ensure they are able to capitalise on these themes. However in the short-term the slow down in the housing market is causing many, especially first time buyers to put affordability above environmental priorities,” Knight Frank’s head of residential research Liam Bailey said.
The report also identifies concern among developers about both the cost levels and current availability of technological solutions aimed at achieving the government’s zero carbon targets by 2016, especially in the context of apartment schemes.
This attitudinal change in favour of eco-measures was more accentuated for future property purchase with 76% claiming energy efficiency to be an important factor. In fact 96% of respondents considered low running costs a significant factor for their property with 58% recognising the cost saving benefits of renewable energy sources as being important.
EC Harris’ head of private residential Mark Farmer said the real challenge for the industry is how to deliver the required step change towards zero carbon by 2016 within the parameters of technical and financial viability.
“Despite the likely increase in market sentiment towards eco friendly residential product and the ability for developers to drive value, the current cost premiums for compliance are not sustainable in real terms.
“Innovation and supply chain diversification will be key to creating a viable platform for delivery of zero carbon homes in the future,” he concluded.
Australian Property Journal
