Friends in North for eco-home

Dec 18 2009 by Chris Knox, The Journal

PEOPLE in the North are more willing to pay extra for a home constructed to higher environmental standards than elsewhere in England, according to a new survey.

The poll, by ICM on behalf of Fabrick Housing Group, has found that 68% of those in the North of England said they would be willing to pay around £3,500 extra for their home.

This is the average additional cost of building a typical three-bedroom mid-terrace home to the Code for Sustainable Homes Level 3.

Those in the South East were the second most likely to pay the extra money, 67%, followed by the South West and Wales, 66%, with those in the Midlands least likely with 62%. Only in Scotland were people more likely to pay the extra, with 70%

Fabrick Housing Group, which is a partnership between Tees Valley Housing and Erimus Housing and owns 15,000 properties between York and Newcastle, commissioned the report to highlight the cost-effective nature of eco-homes.

On average, it would cost more than £600 a year less for heating, hot water and lighting bills in such a home outlined above than in an equivalent house built without such upgrades.

Martin Hawthorne, group director of development and regeneration at Fabrick Housing Group, said: “The figures for the cost of building a home to higher environmental standards are, when you consider the potential long-term return, highly insignificant.

“The extra cost – which would generally be spread out over a 25-year mortgage – would be repaid in reduced bills within six years.

“People in the North seem to be more willing to overlook those initial figures and see the longer term benefits, not only financially, but for the environment as well.”