Demand on The Rise!
The number of homes coming onto the market with dedicated access to an electric car charging point has increased by 514% in a year, new figures revealed by Rightmove. Their research excluded new builds to determine the uplift in older homes having charging points nearby.
Earlier this year the Government confirmed the plan to ban sales of new petrol and diesel cars by 2030, shortly followed by hybrid cars from 2035. An electric vehicle is said to be 47% cheaper a year to run than a petrol equivalent, according to separate research by Compare the Market. Electric cars now make up around 1 in 10 new car sales.
Tim Bannister, of Rightmove, said: 'The number of electric vehicle charging points is continuing to rise, and in turn, we're hearing from agents that potential buyers are increasingly adding access to a charging point to their list when choosing the right home’.
He continued 'alongside the energy performance of a home, we anticipate electric car charging points will become more important for buyers over the next few years and will be an additional selling point for movers listing their home’.
People are more conscious about future proofing their home due to how fast plug-in cars are taking over the market, and with the future set on being fully electric why wait? The Government recognises the need for people to charge their cars at home. There is now a scheme to help do so, the EVHS (The Electric vehicle Homecharge Scheme) is a grant that provides a 75% contribution to the cost of one charge point and its installation. A grant cap is set at £350 (including VAT) per installation. The main requirement is that a person owns, leases, or has ordered a qualifying vehicle and has dedicated off-street parking at their property.
The prime minister is set to announce that EV charge points will be legally required in new build homes from 2022. As well as new build homes this also includes properties that require major renovations.
Until recently, we at Wilsons were not aware of any significant financial benefit of installing an electric charge point, but now as the fearful consequences of climate change becomes ever more apparent, it’s clearly going to have a marked effect in the future.