Relationships between house value, energy expenditure and energy ratings

Neil Dunse, Sotirios Thanos and Glen Bramley

ERES from European Real Estate Society (ERES)

Abstract: The residential housing market can play an important role in the reduction of global carbon emissions. Energy rating is viewed as an effective tool for reducing energy consumption since the information conveyed may help to encourage energy conservation among private households. This paper reports evidence on the economic implications of energy performance ratings. We use a dataset of 15,515 valuations of residential property in England and Wales. The data include the UK Governmentís Standard Assessment Procedure (UKSAP_2005) for Energy Rating of Dwellings, household energy expenditure, environmental, structural and household characteristics. The paper tests the relationships between house value, energy expenditure and energy rating. The results suggest that this information is both capitalised into the value of residential property in the UK and heavily affects household energy expenditure.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2011-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2011_129

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