New plan to ban gas boilers could make your home UNSELLABLE – ‘buyers hate heat pumps’ | Personal Finance | Finance
Homebuyers don’t like or trust the new electric heat pumps that the Government is pushing us to install as part of its net zero drive to slash carbon emissions. Many will be unable to sell their home and will have to slash its asking price as a result.
That’s a poor reward for following government advice by replacing gas boilers that run on fossil fuels.
It can cost up to £22,000 to install an electric heat pump as it can mean ripping out the existing central heating system, as we reported last week.
That is not the only cost that homeowners will incur, as buyers are likely to shun their property as a result.
They would rather stick to tried and trusted gas boilers, said Jonathan Rolande, director and property surveyor at House Buy Fast.
Installing a heat pump could make it harder to sell your home. “Property buyers do not like these new, relatively untested systems and in my experience, will not pay more for a property with them installed.”
He added: “In some cases, buyers will be put off altogether.”
Government plans to phase out gas boilers in favour of low-carbon alternatives could cost taxpayers an incredible £115 billion in total, energy experts say.
Prime Minister Boris Johnson wants 600,000 heat pumps installed every year by 2028, as part of his “net zero” carbon emissions policy.
He said this would be voluntary and has offered a £5,000 grant under the £450 million Boiler Upgrade Scheme.
However, the Government’s infrastructure chief Sir John Armitt has since said that most people would refuse to spend up to £15,000 on a heat pump when a new gas boiler costs just £1,500.
Armitt said households must be forced to make the switch by introducing an outright ban on the sale of new gas boilers.
The International Energy Agency has already said that gas boiler sales must stop after 2025, if the UK is to hit its net zero target.
That’s less than three years away.
READ MORE: Fury at plans to ban gas boilers and install £10,000 heat pumps
Heating and lighting our homes makes up more than a fifth of the UK’s carbon emissions, and 85 percent of us have gas boilers.
But there are cheaper ways of cutting emissions, such as switching to LED lighting, said Stephen Rouatt, chief executive of Signify. “This is one of the quickest renovations that dramatically cuts carbon. It does not require large capital investments and has a short payback time.”
Sean Keyes, managing director at engineering firm Sutcliffe, said the net zero push should prioritise other areas, such as energy efficiency. “Improved roofing, secondary glazing and draft proofing will all help, be easier to install and cost much less.”
This work will also increase the value of a property, rather than reduce it, making it a more tempting for homeowners.
