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Homeowners go green to save money rather than to help the environment

Although eight out of ten homeowners are implementing ways to save energy in their homes, it seems like the majority of them do so to save money and not for environmental reasons. According to new figures released by M&S Bank, 80% of home owners have made at least one green improvement to their home in the last year including fitting energy saving light bulbs, recycling and switching off lights in unused rooms.

10% have fitted a new energy efficient boiler, whereas 13% have fitted new windows and 19% have installed solar panels, but less than 10% said that there main motivation for the improvements was an environmental issue, stating that saving money was their main concern.

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Of those polled, 25% said that they are concerned that they may have to relocate due to the high cost of housing, a figure that is even higher in the 18-24 year old category, who feel that it is harder to buy or rent today than it was for their parents when they were the same age.

A third of participants also said that their housing costs caused them a great deal of stress and that they are worried about being able to pay their bills and mortgages on time moving into next year; more than 40% of renters also worried about the rising costs in their monthly payments.

Charted Institute of Housing executive Grainia Long said, “These figures are further confirmation that our housing crisis is causing misery for millions of people across Great Britain and fuelling fears for the future, particularly among younger people. We must take action now for the sake of future generations.

“This survey showed that four in ten people would support more homes being built in their local area. We think they are absolutely right. To have any hope of tackling our housing crisis we must drastically increase the number of new homes we build across all tenures.”

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