PRESS RELEASE
(Issued on behalf of the University of Strathclyde and CKD Galbraith)

HOUSEBUYERS NOT READY TO EMBRACE GREEN AGENDA

Homeowners and housebuyers are only willing to pay a small amount to reduce their properties’ carbon footprint and are not ready to fully embrace a green property agenda, according to new research published today (Tuesday, June 26).

An extensive study carried out by researchers at Strathclyde University found:-

* Only between one third and two-thirds of property buying public are aware of energy matters and view inefficient properties negatively.

* The public appear willing to pay £5 to £10 a month on green energy measures for their homes but not much more.

* Some homeowners with high disposable incomes are willing to spend significantly on the latest ‘green gadgets’ but the majority are not ready to make a big financial commitment.

* Rural homeowners more willing to adopt energy saving measures.

* Very low take up of energy certificates as part of property valuations.

Professor Jim McDonald, whose research team from Strathclyde’s Institute for Energy and the Environment carried out the study for property consultants CKD Galbraith, said: “This study shows clearly that the property buying public is becoming increasingly aware of energy matters but they are not willing to go overboard in paying for energy saving measures at this stage of the game.

“There have been high profile cases such as the Conservative leader David Cameron installing a wind turbine at his home but the reality is most people are not ready to do that kind of thing or spend vast sums of money.

“There has been a lot of hype around this subject. Simple energy saving measures such as insulation, more efficient appliances and a change in behaviour are the most cost effective way forward but there is a long way to go before the majority is willing to invest in radical forms of energy production.

“That said people are becoming increasingly aware of energy efficiency and with rising fuel costs that will continue. There has been some evidence of homebuyers willing to pay up to £10,000 more for a new home that boasts an array of energy saving measures and devices and this may become more commonplace in the future.”

The Strathclyde team analysed research carried out worldwide over the past four years for the study.

Rising energy costs and advances in renewable technologies are encouraging commercial property owners and developers to look closely at alternative forms of heating and cooling. The evidence would suggest that a longer-term commercial view of the benefit of renewable energy sources and energy saving measures is being taken on commercial property.

Calum Innes, of CKD Galbraith, said: “This study explodes some of the myths surrounding property, energy and environment. It also delivers some very important messages to the property industry about the way forward.

“Some technologies and behaviours are quite well advanced and are being taken up by people who are looking after property on a commercial basis. We work with a number of people who are involved in innovative schemes and using exciting technologies.

“However, in general the public are not familiar with these measures at this time and are not making this type of commercial decision when buying a house. The general market has some way to catch up but energy efficiency awareness is increasing and it will be interesting to see things developing over the next several years.”

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For further information please contact Ramsay Smith or Lorna Inglis at Media House on 0141 220 6040 or Ramsay on 07788 414 856 or Lorna on 07813 193 618 ramsay@mediahouse.co.uk / lorna@mediahouse.co.uk

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