Another impact of the ongoing cost-of-living difficulties in the UK has been revealed: homeowners are delaying making improvements to the sustainability of their homes, according to the latest ‘Greener Homes Attitude Tracker’ from NatWest.1
More than a quarter of homeowners indicated they are less inclined to implement energy-saving measures in the upcoming 12 months amid enduring financial concerns. In the three months to December 2022, the number of people looking to improve the sustainability of their home fell for the first time since the Green Home Improvements Index started in Q2 2021. Some 71% of homeowners who do not plan to make modifications in the next decade cited the expense of the work as the single biggest obstacle.
Keeping it simple
The reduction in homeowners planning to make green improvements does not stem from people placing lower importance on energy saving. Instead, with budgets stretched, it is the simplest ideas that are at the front of people’s minds. Indeed, installing a smart energy meter, one of the easiest measures, is the most popular choice for the next year.
- NatWest, 2023
🚨 Data accurate as of the date of publication –11.07.2023
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Source: Quilter Financial Planning – Essentially Mortgages Q2 2023