We 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.
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Our key findings for greener homes
Green home improvements index
Homeowners' attitudes towards green home improvements reversed their recent decline in Q2. After having fallen in each of the previous two quarters, the proportion of homeowners planning to make improvements to the environmental sustainability of their main property in the next ten years rose to 66% from 63%. There was also a slight increase in the number of homeowners with plans for upgrades in the next 12 months, with the proportion ticking up from a recent low of 21% in Q1 to 22%.
Energy performance certificate (EPC) ranking
Two-in-five (40%) prospective homebuyers looking to purchase a property in the next 10 years stated that a property’s Energy Performance Certificate (EPC) rating was a ‘very important’ factor to consider. This was up fractionally from 39% in the opening quarter of the year but still below Q4 2022’s 41%. The result moved the EPC rating up one place in the rankings ahead of access to public transport (39% stated 'very important'). Cost remained the most important factor (68%), followed by property location (63%).
Energy efficient home improvements
Latest data showed renewed appetite for energy efficient home upgrades, with the proportion of UK homeowners planning to make improvements rising for the first time in nine months in Q2.
Nevertheless, the cost of the work required remained the foremost barrier to making sustainable home improvements. Installing a heat pump, cavity wall insulation, loft insulation, double glazed windows and solar panels in a typical UK house is estimated, by Quidos Limited, to cost £34,500.
Slight increase in homeowners planning green home improvements in the next 12 months
Appetite for making green home improvements in the next 12 months increased only slightly, with the proportion of homeowners with plans ticking up from 21% in Q1 to 22% in Q2. Data showed a similarly fractional rise in plans for the next 1-5 years (32% up from 31%). There was a more noticeable shift in attitudes towards longer-term plans, with the proportion of those intending to make upgrades in the next 6-10 years rising from 17% to 19%.
A smart energy meter and composting bin were the two green home features most likely to be installed by homeowners in the next 12 months, both cited by 11% of respondents.
Increase in homeowners planning to install car chargers, solar pannels and triple-glazing
An electric car charging point remained the feature most likely to be installed over the next 10 years (40%), ahead of solar panels (38%) and triple-glazing (35%). For solar panels, this was up from 32% a year earlier – the largest increase amongst the surveyed features.
The cost of having work done is the greatest barrier to sustainable home improvements in the next 10 years
Among the homeowners who stated that they either were not planning to make any improvements in the next 10 years (20%) or didn't know if they would (14%), almost three-quarters said that the cost of the work required was a barrier. The data suggested that it was the biggest obstacle by far, ahead of the level of disruption the work would cause (cited by 32%) and the availability of financing options (29%).
Our greener homes retrofit project
We've teamed up with British Gas and Worcester Bosch to cover the cost of home retrofits for nine of our customers, with co-ordination help from Quidos. We're following our customers through every stage of their retrofit journey - from start to finish - and sharing it all with you.
Homebuyer preferences
Homebuyer preferences showed very little change in the second quarter, but digging a little deeper, we found that attitudes towards home energy efficiency in general and specific green features varied greatly by age group.
20% of people looking to purchase a property in the next 10 years considered an Energy Performance Certificate rating of C or above an 'essential' feature, according to data collected in the three months to June. This was little-changed from 19% in Q1. A further 35% considered it a 'very important' feature.
How are households adjusting to reduce their energy bills?
During the three months to June, switching off devices that are usually left on was the most common action taken to reduce energy bills as a result of the recent rise in the cost of energy and the cost of living generally. However, the proportion of households having done so fell from 47% in Q1 to 44%. Efforts to avoid overfilling the kettle also decreased, down from 45% to 43%, while there were notable reductions in the numbers of those using appliances less often (41% from 46%) and using a microwave rather than an oven (27% from 32%).
Minimising food waste is the most common action being taken
Fewer households reported trying to minimise home energy use generally, with the proportion falling further from a peak of 64% in Q4 2022 to 61%. Minimising food waste remained the most common action taken among the green lifestyle choices monitored by the survey. However, the proportion of households doing so decreased slightly from 70% in Q1 to 68%.
Why not create your own home energy plan?
We've created a new tool which could help you reduce your energy usage while making your home greener.
Get customised suggestions to help your home reach its full energy performance potential. Simply enter your postcode and our free tool will give you tips and help you to plan making your home more energy efficient.
This could help to reduce your energy bills and your home’s carbon emissions. You don’t have to be a NatWest customer to benefit from it.
Download the Greener Homes Attitude Tracker - July 2023
You can download a pdf version of the full report, save and share by using the link below.
Previous reports
The NatWest Greener Homes Attitude Tracker survey was first conducted in May 2021 and is compiled by S&P Global. The survey is based on monthly responses from 1,500 individuals in the UK, with data collected by Ipsos MORI from its panel of respondents aged 18-64. The survey sample reflects the true composition of the population to ensure the accuracy of the survey results.