Electric car charging points set to be property investment priority

 

Electric car sales are rising exponentially in the UK, so more buyers and tenants than ever will be adding charging points to their list of must-haves for their next property.

The latest data from Next Green Car indicates that there were more than 395,000 pure-electric cars in the UK at the end of December 2021. Adding plug-in hybrids to the equation, this number rises to more than 740,000. This is a substantial leap compared to the previous year – and a trend that is only set to rise.

At the end of last year, Prime Minister Boris Johnson announced that, from this year, all new-builds will need to provide charging points for electric vehicles. Further to this, all properties that are significantly renovated will need to have electric car charging points.

The UK also plans to ban sales of new petrol and diesel cars for 2030. With this deadline in mind, many people in the market for a new vehicle in the coming years are likely to consider an electric car.

What about retrofitting existing homes?

As the new-build market makes up a very small proportion of overall UK property stock, adding electric car charging points to existing properties may also be considered in the future. The government has already allocated more than £830m towards converting UK vehicles to electric.

According to comments from Eleanor Bateman, policy officer at Propertymark, the UK also needs to invest in low-carbon public transport to boost its zero emissions drive.

She also says that a lack of charging spaces, as well as affordability, prevent some people from investing in electric vehicles. Having a private electric car charging point would be a much cheaper alternative to using public ones.

Tenants are asking for electric car chargers

As the number of electric vehicle owners ramps up, an obvious new trend to emerge among tenants will be wanting charging points in their rental homes. For property investors and landlords, adding one will increasingly add to a property’s desirability.

Bateman says this move has already started to happen in the industry among both homeowners and renters.

“Propertymark member agents are increasingly seeing buyers and renters citing electric vehicle charging points as a ‘must have’, therefore it is positive to see that the UK government is taking steps to address this. Putting cost-effective measures in place will remove what is a significant barrier to electric vehicle ownership.”

Even investing in a property that has electric car charging points nearby can be used as a selling point for potential tenants.

Boosting property value

One study by Rivervale Leasing estimates that a property with a charging point could be worth around £50,000 more. Access to a charger was also cited as the biggest barrier to people buying an electric vehicle, the research found.

There is currently a grant scheme available from the government for homeowners wanting to install a charging point. This can fund up to 75% towards installation. But the scheme is set to end on 31 March 2022, so those wanting to take advantage are urged to do so quickly.

However, the scheme will remain open for homeowners who live in flats and people in rental accommodation.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

electric car charger

Electric car charging points set to be property investment priority

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.