PROPERTY owners can boost the value of their homes by a staggering £5,000 if they install an electric car charging point. It comes after Boris Johnson announced that all new homes need to include an electric car charging point in the future.
“The convenience of a ready-made charging point is proving popular with buyers" (Image: GETTY)
A leading property buyers’ group has said there’s evidence that installing an electric car charging point could boost your home’s value. A property expert from the National Association of Property Buyers (NAPB) said they estimate an electric car charging point could add between £3,000 to £5,000 to the value of your home. Jonathan Rolande, from the NAPB said: “The average charge point costs around £800 and we are already recording cases where homeowners are seeing a quick return on their investment.
“The convenience of a ready-made charging point is proving popular with buyers who own an EV or intend to buy one in the near future.
“Currently we estimate it could add at least £3000 to £5000 to the value of a property and this trend will carry on.”
The property expert also said the number of homes being listed for sale already with electric car charging points is five times higher compared to a year ago.
It comes as Prime Minister Boris Johnson said new homes will be legally required to have an electric vehicle (EV) charging stations from next year.
The Government has also said it wants to end the sale of petrol and diesel cars and vans by 2030.
The aim is to create £145,000 charging points in the run-up to 2030.
The latest announcement for new homes is another part of the Government’s pledge to reduce emissions and reach net zero by 2050.
Buildings that have any “major renovations” will also be required to add EV charging points.
Supermarkets and workplaces as well as new housing developments are being told they must have EV charging points.
The NAPB has said they “broadly welcomed” the news, however, they also aid the Government “could and should” go further in this area.
Mr. Rolande added: “At present, over 40 percent of homes don’t have off-road parking so we need to be thinking how property owners or those in rental accommodation will charge their vehicles.
“Street lighting could be used or developers could simply add numerous charging points in the street on a pay-as-you-go basis.
By Millie Bull, original post appears at Express.co.uk