Homeowners turn to new builds to beat the gas price rise

Rising energy prices have driven homeowners towards new-build properties as older and wealthier buyers spurn properties that have become too expensive to run.

Applications for unbuilt properties was 50pc higher in the first three months of 2022 compared with the five-year average. The energy price crisis has pushed movers towards more efficient properties, data from Knight Frank estate agents showed.

Modern houses are much more energy efficient. In 2021, 84pc of new builds had an Energy Performance Certificate rating – which measures energy cost efficiency by ranking properties A to G – of B or higher, according to a report by the Home Builders Federation, a trade association. Among older, second-hand properties, the share was just 3pc.

Alex Rose, of property website Zoopla, said buyers who purchased new-build properties last year saved an average of 52pc on their annual energy costs.

Households face a 54pc rise in bills following the energy price cap rise last week. Costs are expected to jump again in October, as the war in Ukraine puts further pressure on global fuel prices.

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