The latest research from Warwick Estates reveals how new-build homes can see homebuyers and tenants cut their energy bills by as much as 60%.
Now that winter has arrived, running a home is set to become more expensive than during any other time of year due to vastly increased heating and utility bills. One of the most appealing factors of new-build homes is that their increased energy efficiency means that these bills will be lower than they are for older, existing homes. But by how much?
Warwick Estates looked at the energy costs associated with running both new-build and existing homes on an annual basis and how the two compare to see where new-build homes can save homebuyers the most on their energy bills.
In England, energy bills for an existing property cost an estimated £797 per year. For a new-build property, annual energy bills cost just £390, a difference of -£407, or -51.1%. New-builds can save homebuyers the most on their energy bills in the North West, where the annual energy bill for a new-build home comes in at -52.4% less than an existing property.
In Wales, heating an existing home is even more expensive at an average of £852 per year, while heating a new-build in Wales costs £412, a saving of -£440 or -51.6%.
On a more localised level, the list of places where there is the biggest difference between energy costs for new-build homes and existing homes is topped by two London locations – Harrow and Redbridge.
In both boroughs, new-builds are -60.1% cheaper than existing properties, followed closely by Malvern Hills (-59.9%) and West Devon (59%).
The rest of the top-ten are Ryedale, North Yorkshire (-58.9%); Solihull, West Midlands (-58.8%); the Derbyshire Dales (-58.3%); the Forest of Dean (-57.8%); the Wirral (-57.8%); and Gwynedd, Wales (-57.5%).
COO of Warwick Estates, Bethan Griffiths, commented: “The energy efficiency difference between new-build homes and older, existing properties is stark. Improved insulation technologies, better windows, smart meters, and more, all contribute to a notable saving every year.
“Not only does this increased efficiency save the homeowner and occupier large sums of cash, but it also significantly reduces the home’s carbon footprint. So there is a far wider benefit than our bank accounts alone.”