Sustainable home improvements delayed

Another impact of the UK’s ongoing cost-of-living difficulties has been revealed: homeowners are delaying making improvements to the sustainability of their homes, according to the latest ‘Greener Homes Attitude Tracker’ from NatWest1. 

On hold 

More than a quarter of homeowners indicated they are less inclined to implement energy saving measures in the upcoming 12 months amid enduring financial concerns. In the three months to December 2022, the number of people looking to improve the sustainability of their home fell for the first time since the Green Home Improvements Index started in Q2 2021. 

Some 71% of homeowners who do not plan to make modifications in the next decade cited the expense of the work as the single biggest obstacle. 

Keeping it simple 

The reduction in homeowners planning to make green improvements does not stem from people placing lower importance on energy saving. Instead, with budgets stretched, it is the simplest ideas that are at the front of people’s minds. Indeed, installing a smart energy meter, one of the easiest measures, is the most popular choice for the next year. 

1NatWest, 2023 

It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.