Homeowners can boost property value by £5,000 if they install electric vehicle chargers
Boris Johnson makes car noises during CBI conference speech
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
A leading property buyers’ group has said there’s evidence that installing an electric car charging point could boost your home’s value. A property expert from the National Association of Property Buyers (NAPB) said they estimate an electric car charging point could add between £3,000 to £5,000 to the value of your home. Jonathan Rolande, from the NAPB said: “The average charge point costs around £800 and we are already recording cases where homeowners are seeing a quick return on their investment.
“The convenience of a ready-made charging point is proving popular with buyers who own an EV or intend to buy one in the near future.
“Currently we estimate it could add at least £3000 to £5000 to the value of a property and this trend will carry on.”
The property expert also said the number of homes being listed for sale already with electric car charging points is five times higher compared to a year ago.
It comes as Prime Minister Boris Johnson said new homes will be legally required to have electric vehicle (EV) charging stations from next year.
The Government has also said it wants to end the sale of petrol and diesel cars and vans by 2030.
The aim is to create £145,000 charging points in the run-up to 2030.
The latest announcement for new homes is another part of the Government’s pledge to reduce emissions and reach net zero by 2050.
Buildings that have any “major renovations” will also be required to add EV charging points.
Devil’s Ivy: ‘Less is more’ when watering houseplant [INSIGHT]
Gardening expert on how to clean out gutters using a ‘milk carton’ [UPDATE]
Mrs Hinch fan shares ‘genius’ air fryer tip to remove burn marks [ANALYSIS]
Supermarkets and workplaces as well as new housing developments are being told they must have EV charging points.
The NAPB has said they “broadly welcomed” the news, however, they also aid the Government “could and should” go further in this area.
Mr Rolande added: “At present over 40 percent of homes don’t have off road parking so we need to be thinking how property owners or those in rental accommodation will charge their vehicles.
“Street lighting could be used or developers could simply add numerous charging points in the street on a pay as you go basis.
Looking for a new home, or just fancy a look? Add your postcode below or visit InYourArea
“The Government could and should go further.”
Rob Peters, Principal at Simple Fast Mortgage, said whether a property has an EV charging point is becoming a more commonly asked question.
He said: “Only a few years ago, if you had an electric vehicle charging port when selling a property, it was a bit of a gimmick to buyers and may even have put some off, as EVs were less mainstream.
“However, with the availability and standard of electric vehicles improving by the day, and ownership costs coming down, whether or not a property has an electric vehicle charging port is becoming a fairly commonly asked question by tech-savvy home buyers.
“With the Government’s announcement that new petrol and diesel vehicles will end in 2030, it seems inevitable that newly built properties will be required to have this facility.”
Robert Payne, Director at Langley House Mortgages, said Mr Johnson’s announcement is a “step in the right direction”.
He said: “Change can often cause criticism but for me this is a step in the right direction and certainly a necessary course of action.
“There is a mountain to climb in order to reduce emissions and compulsory changes are the only way to achieve that, as voluntary ones would get ignored by many.”
Source: Read Full Article