Lloyds TSB report going green could boost chance of sale
According to the latest Lloyds TSB Personal Loans survey, more than one third (34 per cent) of UK estate agents claim ‘going green’ with environmentally friendly home improvements could help homes sell faster during the economic downturn.
Lloyds TSB Personal Loans surveyed 500 UK estate agents and over 1000 home owners to understand how would-be sellers are responding to the cooling housing market*.
The findings reveal that 34 per cent of estate agents believe environmentally friendly home improvements, such as insulation and solar panels, would improve chances of a sale during a slower climate. One in ten estate agents questioned by the bank said they had seen an increase in potential buyers enquiring about the environmental credentials of a property.
More than one in ten homeowners looking to sell their property has made environmentally friendly improvements to their homes in recent months. Both would-be sellers and estate agents agree that the most valuable environmentally friendly improvements are loft insulation (56 per cent), and/or installing an energy efficient boiler (73 per cent).
TV presenter and property finder, Phil Spencer, commented on the research: “With the property market slowing down in recent months, would-be sellers are looking for a point-of-difference. Environmentally friendly improvements provide something extra when it comes to selling but also means families are likely to save money through energy efficiency. Times have changed, the market’s not going to help you – you’re going to have to do it yourself.”
Other environmentally friendly improvements that proved popular with estate agents and homeowners include:
- Cavity wall insulation
- Draft proofing
- Solar panels
- Double flush toilets
- Redecorating using ecologically-friendly materials (e.g. paints, woods etc)
- Wind turbines
To help homeowners add value to their home Lloyds TSB personal loans has teamed up with Phil Spencer to create the Move or Improve Guide, offering practical advice and insider tips on the do’s and don’ts of home improvement. An audio home improvement podcast is available to download free of charge.
* 1081 homeowners surveyed by Tickbox.net in June 2008. 500 UK estate agents surveyed by The Survey Shop in June 2008.
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Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes.
Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN . Registered in England and Wales no. 2065.
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020 7356 2075/ 2021
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