How climate change is influencing property buying decisions
There is so much to think about when you are planning to buy your next property.
There’s the location to consider and its importance to the daily commute with access to good transport links, or perhaps it’s more beneficial for getting the kids to school. Or maybe you’ve been hankering after a property with more outside space after your experiences during the lockdowns in the pandemic, or simply to enjoy an interest in gardening not served by your current home.
The number of bedrooms is often an important consideration especially if your family is still growing, while others want off-road parking for more than one vehicle. Perhaps you’re a bit of social butterfly and would enjoy a home that is near a variety of options for the night life.
And the list grows and grows.
Traditional vs environmental property considerations
These are all the standard requirements that come up on anyone’s checklist to decide whether a particular property offered by an estate agent is the best option. But what of the more esoteric items that are increasing in importance?
One of those is the growing concern of the impact on the environment and the knock-on effect on climate change. Generally speaking, the younger age group is understandably more likely to worry about the future of the environment and what they can do to help prevent it becoming a crisis.
New research reveals environmental priorities
And that extends to the purchase of homes. A new report has just been published by the Landmark Information Group, which polled the views of 150 senior property professionals (encompassing estate agents, conveyancers and mortgage lenders). The report shows that 99% of homebuyers are becoming more concerned about the environment. The report is designed to highlight the property professionals’ wish for cementing industry-wide collaboration to avoid falling behind in meeting the increased expectations in building in climate resilience.
This figure is 27 percentage points up from the figure of 72% reported for 2024. For many years the concerns about flooding, particularly with increased severe weather events occurring more frequently around the country, has been the top issue that homebuyers are reportedly concerned about. In the latest survey, though, that has been overtaken for the first time. Heat stress and energy performance are now the key concerns, particularly with the sequence of very hot summers and frequent heatwaves that the country has experienced in recent years pointing to a climate crisis.
Impact on property transactions
Interestingly, the responses from conveyancers underpin this concern, particularly when it comes to citing the reasons for the transaction failing after receiving a negative future climate change risk report. These include the buyer changing their minds, an inability to get a mortgage as a result, or obtaining the requisite buildings insurance because of the current status with regards to its environmental credentials.
So, if you are one of the buyers who have annotated a list of the features and requirements of your next purchase, don’t be surprised if you have something on there about the need to consider the impact on the environment (such as a good Energy Performance Rating or the installation of heat pumps).
And, if you are selling your property, it’s a point of interest to verify what your current position is with regards to environmental sustainability and energy performance. These are the emerging critical factors for buyers to decide whether your property is a viable choice or not. And don’t be surprised if any buyer wants to convince you to lower the asking price to help pay for any modifications to bring it up to environmental spec.
Expert conveyancing for environmentally conscious buyers
At Best Value Conveyancing, we appreciate that your funds are probably quite limited, especially if you are looking to buy that first home, so you’ll want to employ legal services that provide great value for money without losing anything in the quality of the service provided.
With Best Value Conveyancing, you can be sure that the full legal service is kept moving without sacrificing quality. All our quotes are fixed prices, and we provide a no completion, no fee guarantee, should your sale or purchase fall through.
Call us now on 0800 0387 007 to start your transaction moving today!
