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Northern homebuyers lead the way with eco willingness

People in the North are more willing to pay extra for a home constructed to higher environmental standards, according to recent survey.

The survey by pollsters ICM on behalf of Fabrick Housing Group found that 68% of those in the North of England said they would be willing to pay around £3,500 extra for their home. This is the average additional cost of building a typical three-bedroom mid-terrace home to the Code for Sustainable Homes Level 3.

Those in the South East were the second most likely to pay the extra money, followed by the South West and Wales, with those in the Midlands least likely. Only in Scotland were people more likely to pay the extra, with 70%.

Martin Hawthorne, group director of development and regeneration at Fabrick Housing Group, said: “The figures for the cost of building a home to higher environmental standards are, when you consider the potential long-term return, highly insignificant. The extra cost – which would generally be spread out over a 25-year mortgage – would be repaid in reduced bills within six years.

“People in the North seem to be more willing to overlook those initial figures and see the longer term benefits, not only financially, but for the environment as well. In the current climate, anything which reduces fuel costs should be considered carefully.

“Perhaps it is the more relaxed lifestyle in the North than in cities like London and Birmingham and the surrounding commuter belts that gives us the opportunity to consider these situations more thoroughly, rather than seeing the extra cost and making a snap judgement.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .