Almost three quarters (74%) of young people aged between 18 and 34 believe that energy efficient improvements will increase the value of their home, Coventry for Intermediaries has found.

In the lender’s Beyond the bricks: what does a green housing market really look like? report, it also revealed that almost three in five home buyers aged 55 and over agreed that these green changes would add value to their home.

Head of intermediary relationships at Coventry for Intermediaries, Jonathan Stinton, said: "Energy efficient home improvements don’t just give people a way to reduce their energy bills today, they also provide a chance to future-proof properties for tomorrow’s market. Every energy efficiency tweak has the potential to boost a home’s resale or rental appeal, meaning energy efficiency isn’t just a buzzword, it’s a tangible asset which can add value to a home."

The report also suggested that homeowners are expecting to commit just under £8,400 on average to green home improvements over the next three years.

Millennials and Gen Z owners expect an average return of £11,123 from a £9,035 investment after 20 years.

In contrast, homebuyers aged 55 and over expect an average return of £5,379 over two decades from an initial investment of £7,732.

Furthermore, Coventry’s research showed that while some homeowners are feeling the pressure of higher mortgage rates and an ongoing cost of living crisis, two in five (40%) of all homeowners are still motivated to make eco-friendly changes if it means saving money on energy bills.

Stinton added: "The upfront cost of these improvements can be a barrier, but brokers have a key role to play to educate their clients about the benefits of energy efficiency changes, encouraging customers to view them as a long-term investment.

"At the same time, there is an opportunity for brokers to speak to their clients about green mortgages and other incentives that could help them to manage the costs of making their home both better for their wallet and better for the planet too."

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