Homebuyers willing to pay a premium to 'Go Green'
In a bid to discover what makes its homebuyers tick, leading national housebuilder Redrow Homes surveyed 1,730 people to find out their views on going greener and the factors that influence their choice of home.
Participants ranked lower energy bills as more important than a garden, parking space, amenities, external appeal/design of home, and fittings and appliances, when choosing a home and more than a quarter were willing to pay at least a 6% premium for a home with sustainable features.
The research has challenged the long-held claim that consumer demand for greener living is limited.
78% agreed the purchase of a sustainable home was likely to have a positive environmental impact and more than two thirds believed that ‘significant others’ in their lives would approve of the decision to opt for a greener home.
Redrow Homes’ sustainability manager Nicola Johansen, said: “Our findings challenge the long-claimed, but previously under-researched, belief that there is limited customer demand for sustainable homes.
“As a responsible business, reducing the carbon footprint of our developments is a priority. However, we also recognise it’s important to listen to our customers so we can build the homes they really want to live in and help them to make a lifestyle change for the better. This research helps us to fully appreciate what purchasers are looking for from their home and their homebuilder.”
With 60% of respondents agreeing or strongly agreeing that they would be more likely to buy a new home from a company building sustainable homes, the evidence suggests that constructing more environmentally friendly properties, and promoting their credentials, could be a wise business choice for developers.
The study also highlighted some areas where homebuilders can help their customers by providing more information about the eco credentials of properties that are already on the market.
While the majority of homebuyers were confident an ‘eco-home’ would save them money (65%) and that it would be a more comfortable home (62%), a quarter indicated they thought it would be difficult or very difficult to buy such a home and almost half of respondents weren’t confident of how sustainability features work.
Nicola added: “This helps us build on our knowledge of what our customers are looking for from their home so we can provide them with the relevant information to inform their purchasing decisions.”
Redrow is one of the UK’s leading housebuilders and builds a wide variety of homes from the traditionally styled properties of its Arts and Crafts inspired Heritage Collection and Georgian inspired Regent Collection to the cool and contemporary interiors of its modern Abode range.
Built with increased airtightness, making them 54% better at reducing heat loss than a typical 1970s’ home, Redrow’s homes also deliver improved energy efficiency through low energy lighting, appliances that are ‘A rated’ or above and energy efficient boilers to keep carbon emissions low. Redrow also offers customers solar panels as optional extras, as well as other eco-friendly options such as compost bins and water butts.
For more information on the homes Redrow is building at more than 120 locations across England and Wales visit www.redrow.co.uk.
Established more than 40 years, Redrow Homes is one of the UK’s leading house builders, with a £1billion turnover and building more than 4,000 homes in 2014/15 financial year.
Operating across England and Wales, there is a strong emphasis on providing high quality homes in prime locations and its housing ranges feature designs to suit all lifestyles:
• The Heritage Collection combines traditional looking, ‘Arts & Crafts’ influenced exteriors with bright, modern, high specification interiors.
• The classically styled Regent Collection features Georgian inspired street scenes and architecture.
• Redrow has also launched a new brand of contemporary homes in Abode, which boast open plan layouts with streamlined kitchen, dining and lounge areas, high specification wet rooms and outdoor living space.
Redrow also creates exclusive bespoke developments in both rural and urban locations. The company has won numerous awards over the years, including, most recently, the Gold Award for Best Large Housebuilder at the What House? Awards 2015 and 2014, Best House Design at the Sunday Times British Home Awards 2015, the 2014 Building Awards Housebuilder of the Year and five consecutive 5* awards in the Home Builder Federation (HBF) annual customer satisfaction survey. Its ‘My Redrow’ online tool won the overall Customer Engagement category at the 2013 Peer Awards for Excellence. Web: www.redrow.co.uk.