Everest industry news

07 July 2008

Homeowners are leading the way when it comes to going green, according to new research by Tesco Personal Finance.

The comparison arm of Britain's largest supermarket found that 56 per cent of property owners in the UK are motivated by concerns for the environment.

This compares to 51 per cent of tenants, who on the whole, are showing less willingness at present to adopt eco-friendly practices.

A larger proportion of homeowners than renters also admit they are forced to go green, though the majority are limiting their impact on the environment of their own volition.

"Our research offers an interesting insight into the different triggers that encourage people to go green," commented Paul Baxter, director of commercial and partnerships at Tescocompare.com.

"Homeownership clearly is an important point in people's life when they reconsider their impact on the environment.

"With mortgage rates on the rise, inflation on the up and utility bills believed to increase by up to 40 per cent by the end of this year, it is not surprising to see that homeowners are taking swift action to take advantage of the money savings to be had through being green," he concluded.

When it comes to reducing your carbon footprint, homeowners have more recourses than tenants, as they have the power to make property alterations that can significantly reduce their energy use.

Such measures include installing double glazing, which dramatically reduces the amount of heat lost through windows, or loft and cavity insulation, which is proven to improve home heat retention.