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Current projects

Valuation of sustainable homes

ROADMAP GOAL

Businesses that are net zero and sustainable

Purpose

To promote a wider understanding of the benefits of energy-efficient, sustainable homes so that these are recognised in the home-buying process.



Context

Government’s net-zero target is leading to rapid and significant changes to home design, construction and operation. Better designed homes, incorporating new technologies to reduce energy consumption and improve comfort for occupants are potentially attractive to home buyers, especially when combined with great placemaking as set out in the National Model Design code and the upcoming requirement for improving nature around sites.


The traditional valuation process is based on historic data that will fail to reflect the significant changes to home design for many years without a clear understanding of the value of these changes. To improve knowledge around the homebuying process, we will


  1. Create a cross-sector forum for high level dialogue on the risks and opportunities.
  2. Map the key stakeholders in the homebuying process and where the information and training gaps are (including for example for customers, lenders, surveyors, builders, warranty providers, media, brokers, mortgage distributors, Government, trade bodies, RICS).
  3. Develop a plan to understand and address the stakeholder needs.
  4. Communicate the benefits of sustainable homes to all stakeholders.


Planned projects and output

  • Create an oversight group with cross sector involvement to recognise the benefits of sustainable homes in the home buying process.
  • Carry out stakeholder mapping to determine who has a role to play in the homebuying process for energy efficient sustainable homes.
  • Identify key information and training gaps.
  • Collectively with Government, prepare and disseminate consumer (home buyer) communications.
  • Feedback to the Government (via the Hub) on the valuation implications of the Future Homes Standard.

Timescales

The oversight group has been convened and will develop the programme and confirm timescales and outputs over the remainder of 2022.

Participants

An oversight group has been convened, chaired by Adrian MacDiarmid of Barratt Developments. This group comprises representatives from:

  • The House Building Federation
  • Developers
  • Valuers
  • Lenders
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