Wednesday, August 17, 2022
Home Electric Cars Buyers will pay extra 5% for homes with electric car...

Buyers will pay extra 5% for homes with electric car…

Homes with electric car charging points are commanding a 5% premium, research claims.

Motoring website RegCarCheck compared average house prices using data from the Office for National Statistics with like-for-life prices of houses that mentioned charging points on their listings and without, and calculated the difference.

It claims to have found a 5% difference in house prices for those with a charging point.

James Baker, of RegCarCheck, said: “As of the summer of 2022, 477,000 of the UK driving population owned an electric car. 790,000 owned a hybrid.

“It’s estimated that by 2040, the ownership of hybrid cars will rise to 25.5 million.

“Owning an electric car requires constant access to an EV charging point. As the population of electric cars continue, homes installed with a charging point are becoming very attractive to buyers.

“Homeowners are boosting the value of their property by 5% adding a charging point.

“The average UK property is valued at £292,000, this raises to £306,300 when the property holds an electric charging point. The average cost of a charging point with installation is £800, making it a no brainer for many sellers.”

It follows research by Savills in June that found while the combined number of electric, plug-in and other ultra-low emission vehicles has increased by 176% over the past two years, the number of charging points has increased just 72%.

The agent predicted that this would push up prices for homes with an installed charging point.

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